Bitcoin price (BTC/USD) stuck below $3,500 on Monday morning
The Bitcoin price (BTC/USD) has edged lower following rather uneventful weekend trading. The digital coin managed to catch some positive price action on Saturday, rising to a five-day high, before eventually closing the session at $3,521.06, slightly higher than its opening level of $3,484.63. However, the digital coin gave up these modest gains in the following session, which it finished at $3,464.01.
So far, the Monday session has also been lacking big moves in either direction. Bitcoin saw a small uptick during the opening hours of the session, when its price rose to as high as $3,475.92. However, the coin has pulled back in recent trading and is currently hovering around the $3,450 mark.
The No. 1 cryptocurrency has had a challenging start to 2019. It was nearly 8% down in January, posting a sixth consecutive monthly loss – its longest losing streak on record. In addition, industry website Coindesk reported on Saturday that the current bear market had officially became the longest one in Bitcoin’s history, surpassing the 2013-2015 bear market that spanned 410 days.
Despite BTC’s continuing struggles, some Bitcoin supporters continue to believe that the cryptocurrency have a bright future ahead. Among those is the CEO of Twitter and Square, Jack Dorsey, who recently reiterated his forecast that BTC would probably become the Internet’s native currency.
As noted by Forbes, Dorsey touched upon the topic during a recent interview with podcaster Joe Rogan. “I believe the internet will have a native currency and I don’t know if it’s bitcoin. I think it will be [bitcoin] given all the tests it has been through and the principles behind it, how it was created,” Dorsey said, as quoted by Forbes. “It was something that was born on the internet, was developed on the internet, was tested on the internet, [and] it is of the internet
In today’s trading, the Bitcoin price stood at $3,449.85, as of 11:33 GMT. The digital coin has lost 0.8% of its value in the past 24 hours, according to data from digital currency tracker Coinmarketcap.
