Bitcoin: Disappointing Results

Last weekend, the cryptosphere experienced a huge shock. The price of bitcoin has decreased by 15%. Billion-dollar positions have been liquidated on the exchanges. Traders suffered huge losses

Despite the positive attitude, the situation did not improve during the week. The price of bitcoin has fallen below $50,000. Despite the slight consolidation, today on the 24-hour chart according to CoinMarketCap min was $47714, max — $53642.

About 614,000 items worth $3.97 billion were liquidated on the exchanges. The largest liquidated position was at HuobiGlobal worth $11.28 million.

Analysts are cautious in their statements. They explain the current pullback by consolidation after reaching a new high. The problems with bitcoin hashrate and options, which expire at the end of the month, also refused to influence.

Also could affect the price of bitcoin and news from the U.S. The president said a wealth tax of 43.4 percent could be introduced. This could freeze the financial market.

The bitcoin chart now shows support at $47,400. BTC buyers consider this price justified and attractive, so they are ready to support bitcoin at this level.

In general, however, the chart shows a disappointing bearish trend. There was a breakout of the trend line. The nearest indices — Ishimoku and SMA 100 — have never been tested by the bull market.

Therefore, if the price of bitcoin goes below 47,000,000, it is possible to fall to 42,000 dollars. In the long run, the forecast is still bullish!

You can find out the price of bitcoin on the Binance exchange.

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