Growing worries among analysts over the falling of BTC below $10K

Bitcoin has concerned the analysts by dropping to $11K last week after touch $12K for a few seconds.

Share

We are observing really harsh times for Bitcoin and its hodlers. After peaking at $12,000 for only a few seconds, BTC stepped into the bearish territory and gradually falling below $11K last week (roughly 10,800) and this drop was even more sever today ($500).

It’s worrisome for the future of crypto when the world’s number one crypto by market cap experiences sharp decrease. If it drops beneath $10K, the viscous bearish trend my last forever or takes ages to stop according to analysts.

As Joe DiPasquale puts it, we should keep Bitcoin price above 10K if we wish to avoid a long bearish trend. The manager of Bit Bull Capital believes the last defense zone for BTC is from 10K to 10.5K if we wish to keep the bearish trend at bay.

Among this disappointing news, there’s a bit of good news and that says the bitcoin price drop might have been due to bitcoin futures’ open trading gap via CME Group in Chicago. Such open trading gaps would cut an asset’s price a little down approximately around 90% of the time.

Categories

Crypto Currency(5)

Latest News

Visa partners will be able to settle fiat transactions with crypto

USDC can be exchanged over the payment network to pay for the transactions made in fiat by Visa partners. ...

MAR 29, 2021

Clean energy Bitcoin mining pool with Argo Blockchain

Argo has teamed up with DMG blockchain and a new Bitcoin mining pool will be up and running which is powered by hydroelectric energy. ...

MAR 26, 2021

layer-two scaling is the solution offered by Double jump.tokyo for NFTs

Gods Unchained will have its alpha release launched this month which will be available to double jump.tokyo (DJT) and multiple other developers. ...

MAR 25, 2021

Vitalik Butrin criticizes how NFT is being used to makes celebrities richer

Mr. Butrin is of the idea that helping people like Elon Musk to make a profit through NFT (Non-fungible tokens) market is not using it in a proper way, yet he t ...

MAR 24, 2021

Tags

Trump

Bull Market

Tags

Trump

Bull Market