14 Dec bitcoin updated its yearly low, dropping to $3200.
The market decline
As always, bitcoin dropped one: Ethereum (ETH), Stellar (XLM) and Cash (BCH) also lost in price, and latest lost 10% of the cost. For seven days the rate of BCH have dropped from $115 to $89. During the week the market capitalization of bitcoin has decreased by 25%.
In the last 6 months there has been the following tendency: in case of any collapse, but they had enough, bitcoin has shown itself as the most stable asset for the cryptocurrency market. During this time almost all the major cryptocurrencies has fallen in price by 50-80% compared to BTC. In order for the subsidence of bitcoin was equivalent to the one in Ethereum, the largest bitcoin will have to fall another 72%.
Forecast
The main success of bitcoin in recent weeks has been the retention of the support line of $3000. Now the cryptocurrency can start from this level and begin the road to recovery. However, do not expect a major inflow of capital into BTC until then, until a visible positive developments.
