Bitcoin (BTC) Slumps Again: Where is The Next Support?
The past few days have been quite tough for the world’s biggest cryptocurrency, Bitcoin (BTC) and the decline continued on Sunday.
The cryptocurrency had been trading at levels above $50000 a token last week but the decline started last week as a strong bearish trend set it. The price soon tumbled and yesterday, it even went lower than $45000 a token and has been trading at those levels for many hours now.
Experts believe that Bitcoin is now in the middle of a bear market and the resistance level is now at $45000. However, it seems that the carnage might not be over yet. It is believed that Bitcoin might now attract bids at the $42000 level and there is apprehension that it might even go as far below as $40000. It is now going to be interesting to see if the bear market leads to higher interest from investors or not in the coming days.