CRYPTO NEWS - Will bitcoin fall below $47,000?
00:05 Intro
01:48 Crypto News
03:17 Bitcoin News
04:32 Ethereum News
05:15 Bitcoin Technical Analysys
06:40 Ethereum Technical Analysys
07:01 Crypto Market News
08:41 Outro
The crypto market suffered losses again on Wednesday, December 29, its capitalization fell to $2.24 trillion at the beginning of the European session.
The so-called "Santa Claus rally" was short-lived this year. Bitcoin after surging above $52,000 on Tuesday already fell below $50,000. The pullback did not stop there and today the rate of BTC went down to $47,761 (-3.5%).
The largest altcoins ether (ETH) and Binance Coin (BNB) also lost more than 3% in value and fell to $3793 and $535 respectively. The biggest loss of the top ten cryptocurrencies suffered altcoin Solana (SOL), its price fell by 8% to $176.4.
The increase in the balance of BTC and ETH at the beginning of this week turned into a massive sale. Moreover, mainly whales were selling, while retail traders, on the contrary, were buying coins.
According to Glassnode, the number of non-zero bitcoin and etherium addresses on Wednesday set a new record.
Katie Stockton, founder of Fairlead Strategies, estimates that bitcoin faces a pullback to $44,200 within the current cycle. Only in this area will support strengthen and then the consolidation phase will begin.
However, despite the December market decline, BTC still retains the status of the most profitable asset.
Its value since January soared by 65%, which is much higher than the profitability of stocks and commodities.
#cryptocurrency #crypto #bitcoin
Recommended Reading >> bit.ly/32kRpzw
Comments
Post a Comment