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Bears Overshadowed The Bulls Declining Bitcoin Price

The crypto space relies on the rounds of positive and negative market sentiments which in turn impacts the price is a known fact. Yet many assets, now-a-days had showcased a sense of stability by minimizing extreme volatility. Bitcoin price after the recent March 2020 crash, followed a slow yet steady approach and despite market fluctuations, stood strong above $50000.

However, the FUD in the crypto space always drags the stability by declining the value of the asset notably. A similar instance occurred in the early trading hours and the ‘baddie’ is said to Tesla CEO, Elon Musk. Yet, other than this, the founder of The DailyGwei and ETHHub, Anthony Sassano list out the possible reasons for the steep drop.

According to him, many more negative feeds outspread the market in the past week. And hence one should not be surprised if the bears outpowered the bulls and dominated the crypto space.

Also Read: Altseason 2021 May End Very Soon, Predicts A Popular Analyst

Wait, Today Is Not That Day!!

While the entire crypto market is trembling down and revisiting the more possible lower levels, it may be speculated that the bull has come to an end. A similar view of the 2018 and 2020 like crash can be viewed in today’s crash, which may point towards a market crash.

Yet some believe the current dip is just a correction which will bounce back very soon. One of the popular analysts, Lark Davis believes that some day one will stop buying at the dip as the entire market will not rise after the dip. But he also made it clear that today is not that day.

Therefore, the analyst points out the probable rebound the crypto market may experience shortly. Many assets including Bitcoin price may rise, recovering the losses. 

Also Read: Popular Analyst Predicts the Fate of Cardano Price and 4 Other Altcoins

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Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

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‘Be Patient- Bitcoin Price To Recover’ Says A Popular Analyst

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The global market capitalization for the past couple of days is experiencing an extreme drain. Most of teh crypto assets are registering a consecutive 5 red daily candles in a row. The huge selling pressure accumulated on the Bitcoin price has compelled it to bottom below $38,000. By trending very close to the support levels around $37,000, the fear of BTC price revisiting levels around $34,000 hovers. 

Despite the bearish sentiments surrounds the assets, yet it is believed that the price will recover very soon. A popular analyst Alan Santana, suggests his followers to patiently wait until the price flips the bears. He also said that some people are already giving up Bitcoin, falling into the trap of ‘Panic Selling’. And also asked his followers not to join them, rather wait until the next pump.

Also Read: Dogecoin Price Feared To Continue With A Bearish Trend, Is $0.2 At Stake?

btcchart

The price seems to be following the path led by the analyst as it bounced significantly on visiting the support zone at $37,978. With a significant bounce, the price could surge close to $40,000 or above. However, yet the chances of forming lower lows still hover the rally. And in such a case, the price could even visit the lower support at $35,700 and rebound. 

However, $35,700 are among the strong support levels and if in case, the Bitcoin price fails to sustain, then a plunge below $34,000 may be imminent. But considering the indicators, the RSI has already bounced back and MACD showcases ease in the selling volume. And hence considering the factors a bounce above $40,000 may be on the way for BTC price.

Also Read: Cardano(ADA) Price Spikes As Bitcoin & Ethereum Yet To Manage The Trembled Situation!

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