Bitcoin Falls Below $3,500 as Fresh Downturn Hits Cryptocurrency Markets (cointelegraph.com)
Monday, January 28 – Bitcoin falls 3 percent and altcoins shed up to one tenth of their value as bearish moves returned to cryptocurrency markets.
Bitcoin hovered around $3,460, its lowest price since Dec. 16.
While no single event appeared to trigger the losses, analysts had long called for further downsides for Bitcoin, with Cointelegraph reporting on warnings from veteran forecaster Tone Vays during December’s lows which put BTC/USD at $1,300.
Opinions remain split over Bitcoin’s likely performance in 2019.
In altcoin markets, following a common theme of mimicking and then expanding on Bitcoin trends, some assets in the top twenty by market cap fell sharply.
Ethereum had lost 6.8 percent at press time to trade at $108, while the listings were led by Bitcoin Cash, which shed 10.8 percent to hit $111.Ethereum 7-day price index.
Bitcoin SV, the hard fork of BCH that traditionally traded inversely with BTC, failed to replicate its previous behavior, falling 9 percent to $66.80 – a two-month low.
Read the full story: Bitcoin Falls Below $3,500 as Fresh Downturn Hits Cryptocurrency Markets.
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