Crypto Market Begins to Fall Rapidly Again: Bitcoin Below $3,500

Bitcoin fell below $3,500 as $5 billion was wiped out of the crypto market, and major digital assets like Ethereum recorded a six percent drop against the U.S. dollar. The 4.8 percent drop in the combined valuation of all cryptocurrencies in the global market comes after a strong sell-off on January 11. Bitcoin Weakness Expected On January 12, prior to the three percent drop in the Bitcoin price, a cryptocurrency trader with an online alias “Hsaka” said that Bitcoin was showing a sign of weakness based on its performance from January 11 to 12. At the time, the trader wrote: Some thoughts. The first wick below the range low led to a tap of the range high. The second one (this current one) has failed to reach that high as of now. Sign of weakness in my opinion. Since then, the price of BTC declined from over $3,700 to $3,476,…

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