Having staved off a move below last week’s current “bottom” around $3220, BTC/USD has failed to find support much higher, now circling $3300 to cap almost 50 percent monthly losses.
Worries over the fate of a Bitcoin exchange-traded fund (ETF) gaining United States’ regulators’ approval in February have combined with uncertainty over when the 2018 bear could end to limit the largest cryptocurrency’s prospects for gains in the short term.
Many still remain steadfast believers in a Bitcoin U-turn, the most recent of which was ratings agency Weiss, which this week said BTC represented one of the “best buying opportunities” of the year at current prices.
In altcoin markets, BCH continued what had become a common sight for day traders this week, losing more against USD than any other asset in the top twenty.
Since then, BSV has made a habit of trading inverse to BTC, gaining when the majority of assets fall and vice versa.