Analyst: Crypto Bear Market May Get Worse, Bitcoin (BTC) Fundamentally Unsupported
- EthereumWorldNews
- Dec 11, 2018
- 1 min read

Although selling pressure eased off crypto markets over the weekend, Bitcoin (BTC) and altcoins are still in the midst of stormy seas. BTC has found itself stagnant at $3,375, seemingly caught in an inflection point between a short-term bounce and lower lows. As this market’s leading asset has slowed, so has the market capitalization of all cryptocurrencies in circulating. This pertinent figure has moved to $111 billion, just three billion down from Ethereum World News’ Friday update. Interestingly, trading has dried up in recent days, with the 24-hour volume figure dropping to $13 billion ($6.7 billion adjusted) from the $20 billion ($10 billion adjusted) posted amid Friday’s rapid price action. What would be a market update with BTC… right? Over the weekend, BTC embarked on a short-term recovery, moving from $3,300 to a multi-day high at $3,650 over the course of multiple hours. However, as the buying pressure quickly dissipated, BTC began to fall back to Earth on Sunday, moving under $3,500, a cited key support level, before falling victim to the weekly Monday sell-off.
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