фото показано с : blokt.com

The end of the year hasn’t been good for cryptocurrency prices so far. The crypto markets faced another bloodbath on Monday as Bitcoin reached 2018 lows, and is currently trading at $4,591. Ethereum and other altcoins are following suit, while Bitcoin’s market capitalization fell below $100 billion.

The longstanding bearish markets are still taking a toll on digital currencies. Crypto expert and investor Alistair Milne also suggests that the 3-day RSI for BTC matches that of its 2015 performance.

Bitcoin is currently down by over 10 percent in the past 24 hours according to TradingView. Some of the hardest hit popular coins include Monaco, NEO, and OmiseGO, with over 15 percent declines. Cardano, Monero, and Dash are suffering over 13 percent losses. Most coins in the top 50 bled profusely as the market’s tuned to selling.

Digital Currency Fund CIO and crypto investor Alistair Milne shared his views on Twitter earlier in the day. He noted:

“Last time the Bitcoin 3-day RSI was this low was the January 2015 ‘capitulation’ bottom.”

In a subsequent tweet, he said:

“A better view – sorry Note: I didn’t say this is capitulation nor say the 3-day RSI can’t go lower (it can)”

It’s not going to end well for Bitcoin and other currencies, as far as the current quarter is concerned. Recently, longtime crypto bull Tom Lee cut his year-end forecast for BTC yet again, predicting a $15,000 – $25,000 range.

The slump comes days after the Bitcoin Cash hard fork. The fork, which led to the creation of two competing chains – Bitcoin Cash ABC and Bitcoin Cash SV has led to the so-called Hash Wars where each chain is trying to trump the other. Most exchanges are now left with two chains they will have to support and distribute coins between the users.

The Bitcoin Cash fork may have had a major impact on the crypto markets which goes on to show the volatility of the crypto market. But that is not the only issues the market has to face. Accounting firm KPMG said last week that cryptos are not ready to be classified as real currencies. It said that using Bitcoin as a store of value will be a “fool’s errand.” It, however, also pointed to the bright side as KPMG chief economist Constance Hunter noted:

“More participation from the broader financial services ecosystem will help drive trust and scale for the tokenized economy and help the crypto market grow and mature.”

New Bitcoin Carnage Sends BTC Prices to 2018 Lows, 3-day RSI Matches That of January 2015 was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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