Bitcoin resumes losses as $3,500 barrier holds

Bitcoin dipped on Thursday after a hiatus from losses yesterday, on track for the third loss out of four amid weak investment demand, and as the $3,500 barrier holds ground. 

At Bitstamp, Bitcoin fell $50, or 1.4% to $3,380, with a session-high at $3,441, and a low at $3,334. 

Bitcoin rose 2.5% on Wednesday, the first profit in three days while striving to build a base above $3,000. 

Market value of cryptocurrencies fell $3 billion on Thursday to a total of $108 billion as most cryptocurrencies lost ground. 

Bitcoin skidded to 15-month lows at $3,210 last week after the US SEC delayed an anticipated decision on enlisting Bitcoin exchange-traded funds to next year. 

Some analysts believe Bitcoin has reached a bottom above $3,000, with a rebound primed to happen if positive incentives materialized to attract investors to current cheap prices. 

However others think the bottom is still ways to go, estimating it between $2,000 and $2,500 due to stubbornly weak interest and demand on crypto assets.