Bitcoin slipped to a ten-month low to start the trading week, as a red wave continued to sweep the cryptocurrency market./USD dropped to an intraday low of $32,813.31 on Monday.
Today’s bottom is the lowest level prices have traded since July 23 last year, when prices went on to drop below $30,000.Weakness in cryptocurrency markets has been present since the beginning of April, however following last Wednesday’s rate decision, a new chapter of the downturn seems to have commenced.
As a result of the last fall in price, the 14-day RSI is now tracking at a low of 29.50, which is its weakest point since January 26. Should we see this level be broken, which has acted as a level of support in the past, then we could see relative strength fall to as low as 19, as on January 22.slipped to its lowest level since late February during today’s session, which came following a five-day losing streak.
Today’s declines saw the world’s second-largest cryptocurrency drop to a bottom of $2,374.30, which is its lowest point since February 28.
Bitcoin alone was worth over a trillion dollars near peak. Emerging digital currencies and Sovereign crackdowns will correct the bubble if any. It has to close in on Real Value. It may go as low as $5000 in the next 12 months.
Is it a chance to catch the dip? I suppose that bitcoin will reach ATH in any case. I just need know how low it will plunge.
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