For the last five days on the market of cryptocurrency Bitcoin (BTC) enhanced bearish trend. Many signs indicate that the Bitcoin exchange rate is under threat of collapse, the price of coins could drop below $3.000 this week.
On Sunday the BTC price once again fell below $3.400, however, the course was quickly adjusted to $3,500. According to the graph of cryptocurrency exchange Kraken, there are several barriers before a key support level of $3.000. Also the market is enhancing the customer when the Bitcoin exchange rate overcomes the support area around $3.400.
However, the price of the cryptocurrency continues to fall. On 24 January, the rate fell by 4.75%, while buyers failed to prevent the downward trend. Traders suggesting that the rate of BTC can fall much lowerthan anticipated - up to $1.800. Such a development will cause a further collapse of the Bitcoin market, and the price is $120 per BTC may not be far off.
The most powerful barrier resistance is seen at $3.250if the bearish trend will run out of steam at this level, there will be the possibility of a course correction. If the sellers will break this support area, then the price of the coin will be in free fall and can fall to $1.800. Then, most likely, Bitcoin will start to actively buy, and the coin will block part of the losses, however, the rate will not return to its previous higher of $3,000.
The negative trend observed on the markets of cryptocurrency Ethereum (ETH), XRP, Bitcoin Cash (BCH) and Litecoin (LTC). This coursex these coins began to fall on 26 January, now there is a slight consolidation (less than 1%), however, there is a high probability fall in the value of digital assets.