Analysts: bitcoin fell below $3500, and the possibility of a rebound in the market is weakening.

Reprinted from 100 Author: finance field

Bitcoin has been unable to stabilize at more than $3500, which led the market to sell a wide range of encryption, most currency fell 2% or more. Although today has declined, but many altcoin is still able to maintain in the level of support they recently established.

Bitcoin, the current price is $3300, a decline of 1.8%, slightly lower than the 24 hours high of $3550. Earlier this week, bitcoin climbed to nearly $3700 highs, followed by a rapid decline, indicating that the price level may be bitcoin resistance level.

Over the past few days, bitcoin seems to establish $3400 for the new support, today and on Tuesday hit the price, bitcoin prices rebounded slightly. Some analysts said that with the bitcoin fluctuation between $3400 to $3700, the smaller the possibility of rebound.

CrackedMarket JaniZiedins said in an interview with MarketWatch: any assets with low transaction time is longer, the less likely oversold, if bitcoin continues to around $30 thousand in volatility, so we maintain these levels longer, the less likely the price rose sharply.

Bitcoin can not be stable at more than $3500, resulting in the altcoin market fell slightly, but overall remains in support on the recently established. Earlier this week, bitcoin fell to $3700 from $3400.

Ethereum is currently one of the best altcoin, the current stock price fell 0.5%, to $91 earlier this week, Ethereum formed the $88 area as a support level, and seems to have stabilized at more than $90.

XRP’s current share price of $0.305, down 1.5%, XRP $0.30 in the region to establish a support, at the beginning of the week just short below this price.

Bitcoin cash (BCH) is one of the worst altcoin, its current price of $98, down nearly 6%. Bitcoin cash is currently hovering near record low of $97, almost no signs of rebound.

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