According to information from the Cointelegraph price tracker as well as Coin360 bitcoin has begun to lose support and the price has begun to drop. There was a drop in bitcoins this week and it ended up in the range between $3,500 and $3,670. At the time this information was made available to the public (Monday, January 28) bitcoin reached a low of $3,460. It has not been this low since December 16. Even since that time this current rate is lower than what investors were ready for or prepared for. This was one of the investments that have been going up and now it is beginning to show a decline in the market.
While there is no single event that has triggered this loss, there are some warning signs that Bitcoin was going to decrease. There was not one event that happened that caused the rates to drop without warning. experts have split predictions for bitcoins in 2019. Mike Kayamori, who is the CEO of the exchange company
In the altcoin market, there have been some assets that have decreased recently. Ethereum decreased by 6.8 percent and Bitcoin Cash decreased by 10.8 percent. Even the Bitcoin SV which is one of the most traded forms of the BTC did not gain like it did in the past. This stock hit a two month low and fell around 9 percent.
Arthur Hayes who is the CEO of the BitMEx trading platform said that the reverse in the market is part of the uncertainty of the initial coin offering within the market. This is ready to begin. This will hit the market either later on this year or early on next years. Once this does take its place on the market the return for the bitcoins is expected to go up once again. Once this happens the ETH rate should be at least back to $200 if not higher at this time. Investors have not been used to seeing such as decrease with the bitcoins. Until recently the rates have been going up making bitcoins a profitable investment. Now that they have begun to go down investors have to be able to within the test of time and see if this stock will go back up on the market once again.