Experts say if the digital currency falls below certain support levels, it could be headed for significant losses
China’s Supposed ‘Bitcoin Ban’ Fails To Crash Market As Twitter Adds Crypto Payments In Historic FirstHe stated that if the digital currency falls below certain support levels, it could be headed for significant losses.“I believe namely if the price of Bitcoin falls past $50,000 that this would indicate negative cyclical attributes for Bitcoin price,” meaning that it could serve as an early signal that the digital currency is heading for a bear market.
“Technical indicators are screaming ‘healthy correction’ rather than ‘new bear market’ for now,” he stated.“Below 50k would give me some pause, sure,” he stated. “I think 53k is a likely area for a bottom here if it continues down. But my expectation is that will be front run.”
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