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.