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Bitcoin Steady After Negative Start, 2018 -

Jan, 02nd 15:03

Bitcoin began 2018 with a tumble – extending its slide from a record $19,891 reached on Dec. 17. The digital currency has risen by a multiple of 20X since the start of 2017, climbing from less than $1,000 to as high as $19,891 on 17th  December on Bitfinex and to more than $20,000 on other exchanges. However, it has posted heavy declines since, falling as low as $10,718 on December 22. Bitcoin investors believe the decline was a natural correction after a breathtaking rise. However, there have been warnings of an asset bubble from market regulators and central banks.

Bitcoin got off to a much stronger start last year, and then kept that momentum going, eventually creating a global frenzy for cryptocurrencies. In a sign of its phenomenal price gain in 2017, it rose 3.6 percent on the first day of 2017 to $998. It ended the year, up more than 1,300 percent

On the technical charts, the market is range bound, between the 61.8% and the 50% Fibonacci retracement level (from 5393 to 19832).

Trade suggestion:

Buy digital Call option between 13930, and 14050, valid until 22:00GMT January 2nd 2018