Is Bitcoin heading for its fifth January decline in a row?

Bitcoin has started off 2019 in a more stable situation than it was in 2018, which saw the price plummet 26.64% in January alone. Bitcoin has seen its price decline in for January for four straight years. January 2019 looks to be a similar situation with Bitcoin not expected to make any big moves this month.

“Bitcoin would need to break through the 21-day moving average…”

Bitcoin price has fallen a combined 73.34% over the past four years. Following a 13% drop in price over the past week, which saw bitcoin lose steam to hold above $4,000.

Bearish sentiment continues to hold true with Bitcoin still having gas to push to $3,000. Bitcoin would need to break through the 21-day moving average which would currently be above $3,768.

Related: Did you want to buy Bitcoin at $3k last year, what about now?
Related: The Bitcoin Gap

All eyes will be on bitcoin over the course of the next few days to see if it can challenge $4,000 again. Based on the current looks of things, BTC looks set to continue its losing streak in the month of January.

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Ryan Boltman
Ryan Boltman
Business Development Manager South Africa
rboltman@tvmarkets.com