Battered Bitcoin Price Sets New Yearly Low at $3,310

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So much for that early week recovery. The bitcoin price touched a fresh yearly low on Friday morning, driving the crypto market even further into the red as financial markets across the boardcontinued their recent downtrend.

Bitcoin had entered the day on shaky footing, with many fearing that the flagship cryptocurrency’s inability to defend the $4,000 level signaled an impending drop to the $3,000 region. BTC/USD has not broken that next crucial level yet, but the bitcoin price did take a major step toward that level on Friday morning at around 1:25 UTC, when BTC dove to a new yearly low at $3,311 after trading as high as $3,849 less than 24 hours prior. As of the time of writing, BTC/USD was hovering near $3,344 on Coinbase, representing a single-day decline of just under 10 percent.

The move to a fresh low-water mark in 2018 followed the Securities and Exchange Commission’s decision to delay ruling on VanEck’s latest bitcoin ETF proposal until February 2019. However, nearly everyone expected that the commission would kick the can down the road until the last minute, as it has done with other crypto ETF applications in the past. Consequently, it seems unlikely that the delay would have any real impact on bitcoin’s short-term movements.

In any case, the technicals continue to look poor for the crypto market, with some analysts – including Bloomberg’s Mike McGlone – predicting that a mark as low as $1,500 would not be out of the question for the already-battered bitcoin price.

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TRVC是个好币!
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子夕
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Pemo168
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Lisa@BitRabbit
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TimothyL
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TRVC是个好币!
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MNewlife
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virgavirdata
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Pemo168
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Miners should stop selling btc to hedge against falling digital assets prices. 

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Miners were swept away...............

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charmmytashi
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Drop again , so sad 

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charmmytashi
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Hopefully can swiftly rebounce 

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charmmytashi
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Can buy if got money!! 

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charmmytashi
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Afternoon!

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charmmytashi
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Nokia 3310!

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charmmytashi
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@香香公主 #7

Nokia 3310!

 Lol

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@子夕 #6

Afternoon!

 Good afternoon to you too

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看不懂也要顶

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charmmytashi
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BTC OTW TO $2000😎😃😂

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charmmytashi
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@香香公主 #7

Nokia 3310!

I once kept one.

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charmmytashi
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@Sinn47Mocin #11

BTC OTW TO $2000😎😃😂

Omg!!! Me will heart attack sweat_smile

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@兔基WaterKing #10

看不懂也要顶

 谢谢老大来支持

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@charmmytashi #13

@Sinn47Mocin #11BTC OTW TO $2000😎😃😂Omg!!! Me will heart attack

 😃 Hold👍

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Nice sharing

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charmmytashi
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@Sinn47Mocin #15

@charmmytashi #13@Sinn47Mocin #11BTC OTW TO $2000😎😃😂Omg!!! Me will heart attack 😃 Hold👍

 haha

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@Lisa@BitRabbit #16

Nice sharing

 Thank you kissing_closed_eyes

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Up!

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charmmytashi
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Good sharing.

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charmmytashi
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@Sammy #20

Good sharing.

 Thank you for your support 

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@六月合欢 #2

Miners were swept away...............

 Whales will coming soon ..lol

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@Pemo168 #3

Drop again , so sad

 Just hodl

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Heard ll be drop further 

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charmmytashi
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Want to cry Liao , so sad 

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charmmytashi
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@Dragon #25

Want to cry Liao , so sad

 Please don't cry , I give you BRBjoy

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@Pemo168 #24

Heard ll be drop further

 Estimate will drop under 2.5k

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