Bitcoin (BTC) Declines Below $4,000: Altcoins Instant Follow-up

Despite all the momentum built by various coins during the last few days and the much welcomed gain experienced throughout the market, the crypto-market dropped for $4.0 bln in just a few hours with the beginning of this week.

Source: coinmarketcap

Per time of writing – the pioneer of cryptocurrencies Bitcoin BTC dropped below the major $4,000 as the momentum sprung last week got tired and the bears took over the wheel reaching the $3,945.60 level counting -1.73% in the negative against the US Dollar. The altcoins followed-up speedy and went head first for the beginning of the new week value plunge.

Even that many analysts that last few days became quite cheerful – some have kept a level head. Amarok, a crypto-centric chartist, recently issued a warning to his investors via Twitter about the short-term prospects of Bitcoin. He noted out how during Dec-Jan the #1 coin by market cap changed hands between a $3,564 to $4,241 Fibonacci range. While this isn’t anything notable in and of itself, the asset failed to break above its 0.786 Fibonacci ($4,096) prior to falling dramatically. BTC recently failed to surge past its 0.786 Fibonacci ($4,072). Again, this all has been underscored by somewhat waning trading activity. – Read more on the cover written by Nick Chong

Latest on the second largest coin – Ethereum, Justin Sun the founder of TRON [TRX] highlighted out that when Tron blockchain succeeds, he intends to build a monument of the creator of Ethereum – Vitalik Buterin in memory for the contribution. This came right after Vitalik Buterin said that in case Tron takes over Ethereum’s place he will lose faith in humanity.

Bitcoin (BTC) $ 48,246.00
Ethereum (ETH) $ 1,602.33
Tether (USDT) $ 1.00
Cardano (ADA) $ 1.11
Binance Coin (BNB) $ 225.10
Polkadot (DOT) $ 33.30
XRP (XRP) $ 0.462194
Uniswap (UNI) $ 27.97
Litecoin (LTC) $ 181.71
Chainlink (LINK) $ 27.63