Bitcoin is still struggling to find the bottom of a bear market on the anniversary of its $20,000 all-time record price high.
By Dec. 17, BTC was trading at $20,000 and was seen rising to dizzy heights this year.
Sell the fact: BTC closed last year at $13,880 - down 44 percent from the $20,000 high seen on Dec. 17 - possibly due to profit taking on long positions initiated in the run-up to the futures listings.
Bear breather: BTC spent a better part of the second quarter and the entire third quarter defending the psychological level of $6,000.
Losses resume: BTC's inability to produce a notable price bounce despite the repeated defense of $6,000 proved costly.
BTC hit a 15-month low of $3,122 over the weekend and is showing little signs of life below the 21-month EMA. The short-duration, technical charts are signaling scope for a minor price bounce.
The above chart shows BTC's journey from the record highs a year ago to recent 15-month lows near $3,100.
BTC's daily chart shows a "Sideways" breach of the falling wedge resistance, meaning the breakout is not convincing.
BTC/USD long positions on Bitfinex rose to 35,773 BTC earlier today - a level last seen on July 23.
BTC could witness a corrective bounce ahead of the year's end.
A Year Ago Today Bitcoin's Price Hit a Record $20k
gepubliceerd op Dec 17, 2018
by Coindesk | gepubliceerd op Coinage
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