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).
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