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The bitcoin price drops to $ 3,500 after the poor weekend

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Saturday, the price of Bitcoin rose to $ 3,758, but the day after it dropped sharply. Total market capitalization decreased from $ 124 to $ 119 billion.

On Monday 21 January, the average market price of Bitcoin fell to $ 3,500, while the day before the main cryptocurrency lost 4%. Two days ago, the value of the currency exceeded $ 3,758 and Sunday afternoon fell sharply. The capitalization of Bitcoin has fallen to $ 63.8 billion. The encrypted market capitalization has decreased by 4%, from $ 124 billion to $ 119 billion. At present, most of the digital money is still in the "red zone".

The first 5 cryptocurrencies started the week in red

The first 5 cryptocurrencies in terms of capitalization started this week in red. At the time of writing, the price of Bitcoin is less than $ 3,600. According to Coinmarketcap, the price of the main cryptocurrency is currently above $ 3,540, a decrease of more than 3.8%. The capitalization of Bitcoin has fallen to $ 63.8 billion.

The news that adversely affected the cryptocurrency market was the fact that the mining equipment manufacturer, the Japanese company GMO Internet Group, suffered heavy losses in 2018 and the development and production of mining equipment ceased. . The price of Bitcoin is expected to test new lows in the near future.

The most evident drop in value was seen on the Ethereum chart: the ETH price fell by more than 6% to $ 116. Last week, a hardfork project, Constantinople, did not take place on the Ethereum network, due to the vulnerability discovered in one of the improvements. Using this bug, hackers could repeatedly enter the same function and withdraw funds from the user's account indefinitely.

At the end of the week, on January 18, the developers of Ethereum were staged on a new day to perform a hardfork – the upgrade should be performed at around 7 280 000 blocks, which will be produced at the end of February, expected for 27.

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