Following the lowest month for over a year in December markets started to recover over the New Year. Progress continued steadily until January 10th by which time markets had recovered almost 40%. The bulls did not stay around for long though as a huge dump wiped out $16 billion in two days sending markets back down towards their lowest levels again. Over the month markets lost 8.6% ending at just over $115 billion total capitalization.
Bitcoin hit a huge wall of resistance at $4,000 which it could not overcome and further losses were predicted. It came as no surprise then when BTC dumped to its next support turned resistance level of $3,600. This broke down before the end of the month sending Bitcoin lower still, ending January 8% down at $3,440.