Bitcoin (available on Coinbase) price is tumbling further today, dashing any hopes of a rally that some felt was certain thanks to current extreme oversold conditions.

The world’s largest coin by market cap is currently selling for $3,301.60 USD according to coinmarketcap.com. But earlier today, it fell to $3,200, representing a 15-month low for Bitcoin (available on Coinbase) and not helping bulls’ hopes for a revival.

This is the lowest level since September 2017.

Bitcoin (available on Coinbase) Price Drop

In the last four weeks alone, Bitcoin (available on Coinbase) has dropped 49% in price. Surely, sellers are exhausted, and Bitcoin (available on Coinbase) is set to turn around. Earlier this week, BTC began moving upwards towards $3,633, but it did not last. The coin’s failure to produce a worthy bounce back despite being extremely oversold indicates that the bears are winning this war and negative sentiment is sTron (available on Binance)g. A 200-week moving average support of $3,170 has been established and now heading below it may be a real possibility for Bitcoin (available on Coinbase).

Others Follow

Across the market, the sentiment is once again bearish. Bitcoin (available on Coinbase) Cash’s recent forks Bitcoin (available on Coinbase) SV and Bitcoin (available on Coinbase) Cash are both two of the biggest losers, with declines of approximately 11% and 14% respectively.

It seems the hashrate war between these two coins is doing neither of them any favors. The hard fork happened on November 15th, and the contentious split has caused both coins to lose more than they have gained.

Elsewhere, Stellar is down 7.5%, and EOS is down 5%. Ethereum (available on Coinbase) is down 4.5%.