Bitcoin and cryptocurrencies have suffered a new decline that has dragged the market back into the last week. Since then, most of the cryptocurrencies in the market have been operating steadily and without large price fluctuations. However, there is an analyst who believes that if the market will not be able to finish this weekend close to $ 3,700, it will fall to $ 3,000.
According to CoinMarketCap, Bitcoin has been trading in the last days near $ 3,665. During short periods of time, it was exchanged below or above this number, but very close to it. At the beginning of last week, Bitcoin it was trading near $ 4,100 and then fell to almost $ 3,600.
The famous cryptocurrency trader and analyst @CryptoDonAlt wrote on Twitter that if the market did not retest $ 3,700 at the weekend and was unable to close above that number, Bitcoin could drop to $ 3,350.
$ BTC daily update:
Clean the support break.
If we repeat 3700 again at the weekend and I can not close it up, I expect ~ 3350.
Most likely I will close my hedge there.
This is the reason why you should not trust the mismatched models: it is an easy way to get a rekt. pic.twitter.com/IBVroGpptA
– DonAlt (@CryptoDonAlt) 12 January 2019
This is a very short term price analysis. But there are other analysts and experts who believe that Bitcoin is marketed in a broader price range.
He commented on this:
"It seems now that bitcoin has opened a new mini-range ranging from $ 3,550 to about $ 4,200. The movements within a beam can sometimes be as sudden as we saw yesterday, but unless there is a breakout of key levels is not really much to write at home. "
At the time of writing this article, digital resources operate in a stable range. The entire market capitalization is $ 122.59 billion. Bitcoin can be purchased for $ 3,670 and has a market capitalization of $ 64.15 billion. In the last 24 hours, Bitcoin has increased its price by just 0.31%.
The biggest winners in the top 10 are Stellar Lumens (XLM) who recorded an increase of 4.26% and Bitcoin SV (BSV) which grew by 3.53%. The biggest losers in the top 10 were Tron (TRX) down 2.31% and Ethereum (ETH) down 0.79% in the last 24 hours. Most other digital currencies are moving between -1% and 1%.