Bitcoin (BTC) still has the potential to drop towards $3,000, despite a minor bounce from 15-month lows seen on Friday.

The leading cryptocurrency by market value picked up a bid at $3,210 three days ago – a level last seen in September 2017. The ensuing corrective bounce, however, seems to have run out of steam, as bitcoin is currently trading at $3,470 on Bitstamp – down 4 percent from yesterday’s high of $3,633.

It’s worth noting that prices are currently down more than 80 percent from the record high of $20,000 reached last December. Further, BTC has depreciated close to 47 percent in the last month, forming record oversold conditions.

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