The bears continue to have complete over the market as they pushed bitcoin to year another 18-month low of $17,500. The altcoins are in a state of despair as well, with ETH standing below $1,000 and BNB beneath $200. Last weekend started a massive price correction for bitcoin, which had dropped from $29,000 to $23,000 by Monday. The following several days brought little joy for the bulls as BTC continued to lose value and fell to $20,000 on a few occasions. The nosedives continued in the past 24 hours as BTC slumped to a new 18-month low of $17,500, resulting in over $600m in liquidations on a daily scale. After a brief pump towards $19,500, the cryptocurrency retraced once again and currently sits around $1,000 lower. Its market cap has taken another hit and is down to $350b now.