The biggest cryptocurrency has renewed its dance with the $7,000 price level. The slide has helped to also send other digital Crypto’s into retreat, with Ethereum, Ripple and Litecoin all lower on Wednesday.  Since failing to regain the psychologically important $10,000 level on May 4, it has closed lower in New York in 12 out of 17 sessions. The hype surrounding last year’s hottest asset class have faded in 2018, due to more pressure by regulators and technical analysts saying the decline replicates the pattern seen following the collapse of the Mt Gox exchange four years ago.

Bitcoin on Friday dropped bellow it’s average over the previous 252 days, roughly equal to the number of trading days in a year.  This could mean that the next leg down is underway, with the price heading to $2,800 by the end of 2018.