The bear market may get worse, and BTC can’t be supported at all.

Although the weekend encryption market selling pressure eased, bitcoin (Bitcoin, BTC) and bitcoin (copycat currency) is still in the storm. BTC found himself stuck in $3375, seems to fall into the inflection point between the short-term rebound and lower lows. As the main asset of this market slowdown, all in the circulation of currency market is slowing encryption. The relevant number has reached $111 billion, compared to only Ethereum World News Friday update $3 billion less. Interestingly, the trading volume in recent days has been exhausted, 24 hours trading volume from $200 billion ($100 billion on Fridays adjusted) to 130 billion ($67 billion adjusted).

Last weekend, bitcoin began to rebound in the short term, rose to $3650 from $3300 in the days of peak hours. However, with the buying pressure quickly dissipated, BTC began to fall on Sunday, $3500 below the key support level, after Monday fell on Monday.

At the time of this writing, the BTC price of $3375, in the past 24 hours fell 4.25%. Copycat coins followed, XRP, Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Tron (TRX) and Binance Coin (BNB) are followed

In this seemingly endless turmoil in the market, Oanda Asia Pacific Trade Department in charge of Yinglisi (Stephen Innes) bitcoin and other encryption currency aversion just doubled further. In an interview with the MarketWatch, the provocative password skeptics said bitcoin is still not a use case, apparently forgotten the essence of network as beyond the traditional boundaries without borders, anti censorship, dispersion, high value of media. Innes added, “bitcoin has far surpassed the tulip bubble”, apparently referring to is not a popular view that the encryption currency is two coming last year the “tulip mania”. However, many industry insiders said publicly that the currency is not encrypted in a bubble, which is associated with the issue of conflict. For example, Ambrosus Changan chief executive Jill Veey Siti (Angel Versetti) recently told the British newspaper “independent” (the Independent) said that although people can at the turn of the century the Internet boom and 2017/2018 crypto boundaries, but if the latter critics classified as a bubble, it would be a negligence.

Translation: Kunming plus

Source: ethereumworldnews

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