After breaking the $ 20,000 mark on December 17, Bitcoin suffered a fairly significant correction at $ 12,000 before bouncing back and to pay between $ 13,000 and $ 15,000. However, digital currency has suffered some setbacks since this monster rally, leaving some to wonder if the bull race could be over.

Bear signs?

The 2013 Bull Run was completed by the dramatic collapse of Mt. Gox, and up to now, nothing that happened to Bitcoin. Nevertheless, it is still possible that the end of the extraordinary race of 2017 will die a thousand cuts.

Last year, China first banned ICOs and then closed the cryptocurrency exchanges in the country. Now the government is targeting mining. China has long been the epicenter of Bitcoin mining, largely because of the country's low-cost electricity prices. Now, the Chinese government plans to restrict the access of Bitcoin miners to cheap energy sources, which would significantly alter the economy of Bitcoin mining.

The dominance factor of Bitcoin has also changed. their digital currency portfolios to higher-performing altcoins. Coins like Ripple, Ethereum and Tron jumped in value, essentially stealing market shares from Bitcoin. In March 2017, Bitcoin accounted for 85% of the total market capitalization of the entire market. Today, the so-called dominance, or market share, of Bitcoin has dropped to its lowest historical level of 33.6%.

The second largest country in the world, India, is starting to look hostile tightening regulations on digital currencies. Recently, a public interest litigation advocate filed an application to immediately regulate the flow of Bitcoin inside and outside the country.

In Venezuela, a place where Bitcoin flourished because of unrest and the economic crisis, President Maduro issued the country's digital currency, the Petro, that Venezuelans might regard as competition from Bitcoin. However, it should be noted that a country officially publishing its own digital currency certainly adds legitimacy to the concept of cryptocurrency as a whole. Moreover, since Maduro can not refrain from printing an almost unlimited amount of bolivars, it is likely that the Petro will eventually suffer the same hyperinflation.

Undecided Graphics

The graphics are undecided, with Bitcoin's pricing currently in a consolidation model. Expect that side "triangle" to break up or down later this month. Volume is also down, below its 30-day moving average, but this is common in a consolidation phase.

<img alt = "Price Table" src = "https://cointelegraph.com/storage/uploads/view/ It must be remembered that the increase from $ 9,000 to $ 20,000 occurred in only three weeks, so the market probably needs time to recover below the $ 4,000 mark.