Bitcoin Registers its Worst Month in Last 3 Years – Slips Below $10,000
Feb, 01st 13:21
The current sell-off in Bitcoin, Ripple, Litecoin, and other cryptocurrencies may have a long way to go before it’s over.
Bitcoin made its 30 percent fall in January all the more painful. The $44.2 billion in market value lost last month is by far a record for the digital currency, whose entire market cap hadn’t come close to that amount until 2017, according to price data from Coinmarketcap.com. After reaching a peak of almost $20,000 in December, a series of negative headlines including a $500 million heist from a Japanese cryptocurrency exchange, buffeted Bitcoin and its peers and it closed the month below $10,000.
Bitcoin was trading 5.43% lower at $9591.1 on Thursday.
On the technical charts, BTC/USD is trading in the negative zone, testing the lower band of the Bollinger bands. The MACD has made a negative crossover below the signal line. The RSI is at 35.62. The market is trading below all the moving averages (9day, 20 day, 50 day, 100 day and 200 day).
Buy digital Put options between 9454, and 9230, valid until 23:00 GMT February 1st 2018