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23.11 - 19:47
Don't Fret, Bitcoin Dropping Below USD 57,000 is a Golden Opportunity
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The bitcoin market is a volatile one indeed. A week ago traders were celebrating USD 69,000, today the price of bitcoin drops 19% to as low as USD 55,600 on Binance. As bitcoin’s price plunged, more than USD 500 million was wiped out from its USD 3 trillion market cap. Despite the bull's efforts to take back USD 63,000, the bear now has the upper hand.
There are many reasons to believe bitcoin’s short-term outlook is bearish. For one, bitcoin has broken its 50 MA and support of USD 58k, what was considered a strong support zone just a few days ago. Now another support level to watch is USD 55.6k, should bear manage to take over it,
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