After a weekend of further price battering, where Sunday looked for a while to have held the bears off, Bitcoin has finally given up on USD 7,000 support levels. In Asian Monday trading, as global stock markets also shuddered in the wake of US-China trade wars, price hit a low of USD 6,524 (CoinDesk).

Altcoins suffered even more, with Ripple hitting it’s all-time low of just below 20 cents, triggering fears that the centralized altcoin would face even further dumping from major holders. Ethereum has also shied away from USD 150, threatening now to shrink back even further to USD 100 if further floors are found.

Crypto influencer Filbfilb is not too worried, however, saying that a Bitcoin price bottom was going to be at USD 6,000, using a descending channel that predicts a bounce after that level is hit. Another Twitter analyst agrees, and advises traders to accumulate at this bottom for the pending bull run expected to follow quickly on the heels of a market bottoming out.

#Bitcoin looks primed for bottoming out within 2019. After rejecting the resistance I discussed in my earlier calls (above 10k), we've seen the markets drop a lot.

We're now entering the 6K range, which I am confident in the bottom! Make sure to accumulate for the next bull run. pic.twitter.com/Lqtuzw1Uwd

— Welson