Bitcoin fell below $ 50,000admin
The price of bitcoin has crossed the $ 50,000 mark, hitting its lowest level in 48 days.
According to Quinn Desk, the price of 2 bitcoins fell from $ 54,900 to $ 51,500 last night at around 8 am Tehran time. After this price reduction, we saw another increase in sales pressure, which eventually led to the price reaching $ 48,300. Bitcoin is currently trading in the $ 48,500 range. This digital currency has experienced a decrease of about 8% in the last 24 hours.
Ki Young Jul, CEO of CryptoQuant Analytics, said:
If Bitcoin fluctuates like this by the end of the week, its weekly candle will close with the biggest drop since February. February saw Bitcoin fall 21 percent weekly from a high of $ 64,900.
Technical analysis predicts that falling below the 100-day moving average in the $ 49,000 area may lead to further falls to $ 46,000.
Other cryptocurrencies also declined significantly. Ripple and Ethereum have lost 19.9% and 10.8% of their value in the last 24 hours, respectively. The price of Bynes Coin also decreased by 5.8%.
Market data show that almost all of the top 20 cryptocurrencies have fallen.
Bitcoin fell below $ 50,000