Over the weekend, Bitcoin continued its downwards tailspin due to weak buying volume, and many of the cryptocurrency market’s losses have stretched into Monday. The persisting market decline is now leading traders and investors alike to question how low the markets will go before they hit a bottom.
At the time of writing, Bitcoin is trading up 1% at its current price of $3,800. Over this past weekend, Bitcoin set a new yearly low at approximately $3,500, from which it temporarily recovered to highs of just over $4,100 earlier today before continuing to drop to its current price. Bitcoin has bounced slightly from its daily lows of $3,640, but it is unclear how short-lived this move will prove to be.