Bitcoin price fell to the lowest point since February 6 on Wednesday and reached the level of $6333 USD. The decline intensified on Wednesday and led the price of the digital currency lower to the yearly lows near the strategic level of $6395. Looks like the struggle for this level will growth in the market, as the development of the situation with this level will indicate the medium-term future trend for the digital market. So far we see a complete dominance of negative tendency.
After a massive market sale-off on last Sunday, when the cryptocurrency market lost more than 40 billion dollars in 24 hours, the decline continued.
It is characteristic that this is the third drop of the market in the region from $6300 - $6000 just in 2018. It is also interesting that the market touched this level in 2017 before the most impressive rally in the history of the crypto currency market, which led the market to $20000.
Market capitalization continues to decline. Today, in the middle of the European session, the market capitalization of the cryptocurrency market amounted to 250 billion dollars. Market capitalization has moved below $ 300 billion for the first time since April 2018.
On Tuesday, Ethereum fell below the key mark of $500, while Litecoin moved lower psychological level $100 and is trading at $88. Levels that we have not seen since early December 2017.