On Monday, the BTC/USD pair corrected its price down to $7,220, at the Fibonacci 61.80% line. The coin lost 2.3 percent of its value and completely erased the gains from the previous sessions.
On Tuesday, December 31, the trading volumes remained significantly lower (around $20-$23 billion on 24h basis) due to end of year celebrations around the world. Bitcoin closed with a loss to $7,166 after moving mainly in the $7,303 - $7,101 zone during the day.
The most popular cryptocurrency ended the month of December 5 percent lower compared to November. Still, surprisingly or not given the recent bear market, BTC was 94 up for 2019 making it one of the best performing investment products out there. For comparison, the NASDAQ Composite Index made 34 percent of returns while Gold gained 18 percent.
The first day of 2020 brought green back to the chart as the BTC/USD pair moved up to $7,175.
On Tuesday, December 31, the trading volumes remained significantly lower (around $20-$23 billion on 24h basis) due to end of year celebrations around the world. Bitcoin closed with a loss to $7,166 after moving mainly in the $7,303 - $7,101 zone during the day.
The most popular cryptocurrency ended the month of December 5 percent lower compared to November. Still, surprisingly or not given the recent bear market, BTC was 94 up for 2019 making it one of the best performing investment products out there. For comparison, the NASDAQ Composite Index made 34 percent of returns while Gold gained 18 percent.
The first day of 2020 brought green back to the chart as the BTC/USD pair moved up to $7,175.
- As expected, the potential break of the Fibb support resulted in a drop below $7,200. We will most probably see it returning to that mark in the coming days.
- It's important to see volumes back for the trading pair and a return above 7,200