The price of bitcoin fell to a six-week low
January correction of the market does not leave stones from the investors’ packs. The total capitalization of the market over the past two days has lost more than 24.6%. Analysts predict continued price decline and capitalization until the end of January 2018.
Since January 15, bitcoin has fallen no faster and no slower than the market. The main cryptocurrency has lost both in price and in capitalization of 20%. It is noteworthy that Bitcoin reached its six-week low when it began to cost $ 10,211 on January 17, 2018. The last time this mark was traded in the early days of December 2017.
Experts believe that the overall market decline is also affected by negative news from China, where they promise to close access to local and foreign trading platforms.
Another theory of the fall of the market is also connected with news from Asian countries, the fact is that in February there will be celebrating the New Year, and everyone wants to withdraw their digital currencies to Fiat in order to spend money. And since the people of Asia – this is a pretty large percentage of all holders of cryptocurrency, their same behavior is so much affecting the entire market. Adherents of this theory believe that the bull market will return after February 16, 2018. So endure another month – optimists in the fall see a happy opportunity to buy themselves a lack of assets, pessimists tear their hair and sell off the remains of portfolios.