Bitcoin fell below $ 50,000
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:
Intra-chain data show that we are still in the long-term uptrend market.
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
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