Just yesterday, the crypto king lost about $4,000 and still seems this trend will continue as the Chinese new year draws nigh.
Bitcoin market value is now $653.2 billion with a circulating supply of 18,596,881 BTC coins.
A lot of buyers got lost in the high as the sellers tend to push the price lower with no assurance of the next bullish spike.
The next faith of bullish movement is uncertain as lot’s of cash has been moved, though a lot of investors say the price of bitcoin will still regain its momentum, the odds seems to be playing against this hope of change.
This week we look to see where the price of bitcoin will head to.
Looking at the technical indicators:
- Major Support Level – $34,647