The great crypto crash of 2018 plunged deeper over the weekend.<\/p>\n
Bitcoin slid another 4.5 percent to $3,635 at midnight Sunday in New York, according to Bitstamp. It recouped most of the losses by 7:50 a.m. but remains in the red. It\u2019s lost 33 percent in the past week and 75 percent this year.<\/p>\n
Cryptocurrencies just had their worst week ever, and Bitcoin is 82 percent below its high of $19,666 almost a year ago. Ripple declined 5.3 percent to 35 cents, and is about 90 percent below its peak.<\/p>\n
After an epic rally last year that exceeded many of history\u2019s most notorious bubbles, digital currencies have become mired in an almost $700 billion rout that shows few signs of abating. Many of the concerns that sparked the 2018 retreat — including increased regulatory scrutiny, community infighting and exchange snafus — have only intensified this week.<\/p>\n
Even after the steep losses, Oanda Corp.\u2019s Stephen Innes has yet to see strong evidence of a capitulation that would signal a market bottom.<\/p>\n
\u201cThere\u2019s still a lot of people in this game,\u201d Innes, head of trading for Asia Pacific at Oanda, said by phone from Singapore last week. \u201cIf we start to see a run down toward $3,000, this thing is going to be a monster. People will be running for the exits.\u201d<\/p>\n
Innes said his base-case forecast is for Bitcoin, which turns 10 this year, to trade between $3,500 and $6,500 in the short term, with the potential to fall to $2,500 by January.<\/p>\n
The great crypto crash of 2018 plunged deeper over the weekend.<\/p>\n","protected":false},"author":341034,"featured_media":252401,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[44696],"tags":[55786,187,49801],"class_list":["post-286868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-55786","tag-bitcoin","tag-price-drop"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/286868"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=286868"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/286868\/revisions"}],"predecessor-version":[{"id":286870,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/286868\/revisions\/286870"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/252401"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=286868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=286868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=286868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}