Bitcoin has lost 40%. The crypto-currency market is decreasing

After reaching a historical high at $ 19,628.00 per coin on December 17, Bitcoin’s price went to correction, thereby provoking an increase in demand for altcoins. Yesterday, in the second half of trading, bitcoin’s decline increased, justifying the expectations for a decrease in the price of the crypto currency, which today reached its local minimum to the level of $ 12,082.00. See Bitcoin is inactive.

It should be noted that not only bitcoin, but all the other major crypto-currencies of the world lost on average about 26.0% over the last 24 hours.

On December 20, it was reported that the founder of Litcoin, Charlie Lee, sold all his coins, arguing that he does not want to be accused that he personally influences the fluctuation of the rate of the crypto currency, for personal gain. Perhaps this message was an alarming call for investors that the crypto currency market is quite overvalued, which led to the sale of digital currencies on the market.

Technical analysis: Due to the decrease of  the bitcoin, the price of the crypto currency has broken through the support line of the ascending channel on H4, which is a signal of a possible trend reversal in the short term. In case of resumption of growth and consolidation of the price above $ 14,000.00, one should expect the recovery of the price of the crypto currency to $ 15 400,00; $ 16,300.00.

Fig. BTC/USD. The current price is $ 13,373,860.

Alexander Sivtsov