Battered Bitcoin Price Sets New Yearly Low at $3,310

istockphoto-818871806-612x612.jpg

So much for that early week recovery. The bitcoin price touched a fresh yearly low on Friday morning, driving the crypto market even further into the red as financial markets across the boardcontinued their recent downtrend.

Bitcoin had entered the day on shaky footing, with many fearing that the flagship cryptocurrency’s inability to defend the $4,000 level signaled an impending drop to the $3,000 region. BTC/USD has not broken that next crucial level yet, but the bitcoin price did take a major step toward that level on Friday morning at around 1:25 UTC, when BTC dove to a new yearly low at $3,311 after trading as high as $3,849 less than 24 hours prior. As of the time of writing, BTC/USD was hovering near $3,344 on Coinbase, representing a single-day decline of just under 10 percent.

The move to a fresh low-water mark in 2018 followed the Securities and Exchange Commission’s decision to delay ruling on VanEck’s latest bitcoin ETF proposal until February 2019. However, nearly everyone expected that the commission would kick the can down the road until the last minute, as it has done with other crypto ETF applications in the past. Consequently, it seems unlikely that the delay would have any real impact on bitcoin’s short-term movements.

In any case, the technicals continue to look poor for the crypto market, with some analysts – including Bloomberg’s Mike McGlone – predicting that a mark as low as $1,500 would not be out of the question for the already-battered bitcoin price.

Block
Feedback
Reply
TRVC是个好币! BRB +5.0 (≈ $ 2.5)
子夕 BRB +5.0 (≈ $ 2.5)
Pemo168 BRB +3.0 (≈ $ 1.5)
Lisa@BitRabbit CARROT +100.0 (≈ $ 0.07533455)
TimothyL CARROT +50.0 (≈ $ 0.03766728)
TRVC是个好币! CARROT +50.0 (≈ $ 0.03766728)
MNewlife CARROT +5.0 (≈ $ 0.00376673)
virgavirdata CARROT +1.0 (≈ $ 0.00075335)

Miners should stop selling btc to hedge against falling digital assets prices. 

Reply

Miners were swept away...............

Reply
charmmytashi BRB +0.1 (≈ $ 0.05)

Drop again , so sad 

Reply
charmmytashi BRB +0.1 (≈ $ 0.05)

Hopefully can swiftly rebounce 

Reply
charmmytashi BRB +0.1 (≈ $ 0.05)

Can buy if got money!! 

Reply
charmmytashi BRB +0.1 (≈ $ 0.05)

Afternoon!

Reply
charmmytashi BRB +0.1 (≈ $ 0.05)

Nokia 3310!

Reply
charmmytashi BRB +0.1 (≈ $ 0.05)

@香香公主 #7

Nokia 3310!

 Lol

Reply

@子夕 #6

Afternoon!

 Good afternoon to you too

Reply

看不懂也要顶

Reply
charmmytashi BRB +0.1 (≈ $ 0.05)

BTC OTW TO $2000😎😃😂

Reply
charmmytashi BRB +0.1 (≈ $ 0.05)

@香香公主 #7

Nokia 3310!

I once kept one.

Reply
charmmytashi BRB +0.1 (≈ $ 0.05)

@Sinn47Mocin #11

BTC OTW TO $2000😎😃😂

Omg!!! Me will heart attack sweat_smile

Reply

@兔基WaterKing #10

看不懂也要顶

 谢谢老大来支持

Reply

@charmmytashi #13

@Sinn47Mocin #11BTC OTW TO $2000😎😃😂Omg!!! Me will heart attack

 😃 Hold👍

Reply

Nice sharing

Reply
charmmytashi BRB +0.1 (≈ $ 0.05)

@Sinn47Mocin #15

@charmmytashi #13@Sinn47Mocin #11BTC OTW TO $2000😎😃😂Omg!!! Me will heart attack 😃 Hold👍

 haha

Reply

@Lisa@BitRabbit #16

Nice sharing

 Thank you kissing_closed_eyes

Reply

Up!

Reply
charmmytashi BRB +0.1 (≈ $ 0.05)

Good sharing.

Reply
charmmytashi BRB +0.1 (≈ $ 0.05)

@Sammy #20

Good sharing.

 Thank you for your support 

Reply

@六月合欢 #2

Miners were swept away...............

 Whales will coming soon ..lol

Reply

@Pemo168 #3

Drop again , so sad

 Just hodl

Reply

Heard ll be drop further 

Reply
charmmytashi BRB +0.1 (≈ $ 0.05)

Want to cry Liao , so sad 

Reply
charmmytashi BRB +0.1 (≈ $ 0.05)

@Dragon #25

Want to cry Liao , so sad

 Please don't cry , I give you BRBjoy

Reply

@Pemo168 #24

Heard ll be drop further

 Estimate will drop under 2.5k

Reply
You should login to reply
You will reward to {{ username }}

Available Balance: {{balance}}

≈ $ {{usdtAmount.toFixed(2)}} (The reward commission rate is 10.0%)

New Favorite Bag

Add To Favorite You can create multiple favorites and classify the topics. Please select the favorites you want to add.
{{ favoriteBag.title }} {{ favoriteBag.favorites_count }}Topics

{{ text }} OK
fa-bars fa-arrow-up