The whole cryptocurrency market is in red waters now for the second day in a row. Bitcoin's massive drop from its recent high of $61,000 by $9,000 to the current $51,500 and going for the $50,000 major support is the main reason other cryptocurrencies are following the same path. Bitcoin is facing its longest losing streak since December last year as much as the other cryptocurrencies.
Bitcoin is now dangerously sliding to cross below the daily 50MA which could cause even more decline if this happens. If support at $51,500 is broken, the leader cryptocurrency may continue its bearish trend towards $46,000
Bitcoin is now dangerously sliding to cross below the daily 50MA which could cause even more decline if this happens. If support at $51,500 is broken, the leader cryptocurrency may continue its bearish trend towards $46,000