Following a week of slow but steady gains Bitcoin fell off the digital cliff again yesterday with a flash crash that wiped out all progress made so far this year. Analysts are now looking at a short term correction if BTC can hold on to where it has currently fallen.<\/p>\n
In an epic dump that wiped out $8 billion in 60 minutes<\/a> crypto markets are back near $120 billion market capitalization again. Bitcoin led the fall when it failed to break resistance at $4,050 twice yesterday. The first plunge dumped BTC to $3,850, which it held for 8 hours before a second swift purge send it tumbling to $3,670. The net result was almost 10% lost in under 24 hours.<\/p>\n Prominent analyst Alex Kr\u00fcger has highlighted $3,600 as a key level stating that consolidation below this price would likely lead to further downsides;<\/p>\n What a majestic dump. $BTC<\/a> back to my buying area of 3500-3600. Below 3300 exit and reassess. I'd like to see BTC ending the day above 3700. Consolidation below 3600 (bottom of prior area) would tilt the balance towards further downside.<\/p>\n — Alex Kr\u00fcger (@krugermacro) January 10, 2019<\/a><\/p><\/blockquote>\n\n