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Bitcoin Price Crash BELOW 40K! Why is Bitcoin Down Again?
The bitcoin market has chosen to plunge again again. This comes after a previous green week in which Bitcoin recovered from a low of 33K to a high of 45K. BTC prices, on the other hand, appear to have made a turn and returned to their present level of $38K. Why is Bitcoin falling, and more importantly, what causes have contributed to a cryptocurrency bear market? In this post, we’ll look through all of the above and decide if it’s a better idea to purchase Bitcoin now or wait for additional price drops.
Bitcoin Price Below 40K…again
Bitcoin investors were ecstatic to see prices surge from a low of $33,000 to a high of $45,000. The psychological price of $50,000 was unquestionably the next objective for Bitcoin. This, on the other hand, did not occur. BTC prices began to fall gradually again until they broke the $40,000 mark.
Coincidentally, the current price of 38K sits between the strong green support range shown in figure 1. This location was originally a source of opposition before becoming a source of present support. Prices usually follow the same patterns in those places.
Why is Bitcoin Down?
When engaging in trading activities, it is crucial to understand that markets might fluctuate for no apparent cause…
