Bitcoin's Price Falls Below $35k: Is It Crashing? - AutoTrading Strategies

Trading News

Read The Latest News & Analysis

Bitcoin’s Price Falls Below $35k: Is It Crashing?

Bitcoin's Price Falls
Share on:

Bitcoin’s price falls below $35k on Monday after nearly hitting $42k mark last week. The crypto investors are anxious over this new development. 

Bitcoin broke records in the past 2 months. After lingering around $10k for quite some time, BTC bullish rally started in the latter half of November 2020. The new year had a great start for crypto traders with BTC breaking $30K barrier.

The bitcoin value kept surging till Sunday. However, it has suddenly started going down. In the past 24 hours, bitcoin’s price has fallen 13%.  The value of the currency is $35,372 at the time of this writing. Investors are wondering whether it is a crash or a correction.

Is Bitcoin Crashing?

Many financial advisors were sceptical about the bull rally and expected a free fall at the end. So is bitcoin really crashing?

Bitcoin's Price Falls
Source: Trading View

We cannot say with surety whether this was a dip or a bearish trend. Nonetheless, no need to panic. As a bitcoin investor, you should know that BTC is a volatile currency. It does surge or plummets at speed. However, after every bull trend bitcoin keeps some of the gains. Investing in bitcoin is a good strategy if you can control your emotions when the market takes an unfortunate swing.

A Twitter user @xrpdarren articulated the emotions of anxious bitcoin holders as follow:

BTC increases 22K in a month or two but when it drops 4k its “crashing” “plummeting to hell” “going to zero”.

Conclusion:

Bitcoin’s price falls depending on market emotions, supply and demand & other outside factors. At present, the demand for BTC is high. Many institutions like grayscale are buying bitcoin in bulk. Hence, we cannot expect bitcoin to vanish into thin air. It is yet to find support or resistance. Till then, hold your horses.

Note: You can read about trading tips, cryptocurrency market analysis and trading strategies on our blog.

Recent News

crypto market

Dogecoin is Everywhere on Dogeday

People bought dogecoin as a joke They are now getting returns in both hands Dogecoin is consistently on the rise ahead of Dogeday  Dogecoin is everywhere, thanks to the

crypto market

Britcoin: UK Government Considers Launching Digital Currencies

UK government is exploring the arena of digital currencies The country is considering the launch of digital currency, which the chancellor of the exchequer touted as

crypto market

What Stands in the Way of Crypto Mainstreaming?

Coinbase listing had all the vibes of crypto mainstreaming However, the ground reality suggests that crypto has a long way to go for solidifying its position as a mainstream

crypto market

Bitcoin Market Went From 59,000 to 52,000 in Minutes

Bitcoin market nosedived on April 18th after news of hash rate crash and rumour of  US treasury's impending action against financial institutions involved in money laundering

Let's Chat
Facebook
Twitter
Instagram
Pinterest