Bitcoin Downtrend Could Persist Through 2019 as Bears Roar; Here’s Why

After a long period of facing downwards pressure, Bitcoin’s bulls finally caved in to the selling pressure, which sent BTC reeling into the $10,000 region. This drop sent the aggregated crypto markets plummeting lower, which may spell significant trouble for the year ahead.

Now, analysts are noting that Bitcoin is highly likely to extend this downwards pressure further in the coming weeks and months, which could result in a drop back into the four-figure price region.

Bitcoin Plummets Nearly 10% as Bears Come Out Swinging 

At the time of writing, Bitcoin is trading down just under 9% at its current price of $10,420, which is down significantly from its daily highs of roughly $11,500, which were set yesterday.

This recent drop marks an extension of the downwards pressure that BTC first incurred when it swiftly rose to $13,800 in late-June, which subsequently led to a massive drop that halted the upwards momentum the markets had incurred for the past several months.

Since this drop,…