Bitcoin fall overnight: the beginning of a bearish trend?

Briefly:

  • At night the BTC rate fell to the minimum price in $ 50 1024, 0071
  • Most of the altcoins also fell in price
  • So far oh It’s too early to say a bear market – analysts say

The weekend began with alarming news on the cryptocurrency market. At night, the bitcoin price dropped to 48 1024, 0071 dollars (11: 38 GMT). Thus, in a day he lost more 22% his cost. Due to such a drop, the market capitalization of the cryptocurrency also declined, reaching 2.2 trillion. dollars. At the time of writing, the price has recovered to the level of ≈ $ 57, 0508.

Ночные падения Биткоина - кто ночбью пет силы из криптовалюты?

The second cryptocurrency Ethereum is trading at $ 4025, 48 she lost more 20%. Binance Coin price is at $ 602, 120.

Due to the market correction, more 500 thousand traders and liquidated positions for $ 2.5 billion

Allocation of liquidations:

  • $ 0731 million on Binance;
  • $ 0667 million on OK Ex;
  • $ 362 million on Deribit;
  • $ 362 million on FTX;
  • $ 226 million on Huobi.

Is this a bearish trend?

Such indicators level the two-month bull market with 34 September, when bitcoin took off by more than 0071% and reached ATN in 100 0667 dollar. This may indicate a bearish trend – that is, a trend towards a long-term decline. Usually a bearish trend is defined when the price of an asset falls sharply by more than 23%.

However, numerous experts recalled that a similar trend in price dynamics happens every year:

Every #Bitcoin cycle in history has ended with a red month followed by 2 or 3 very green months. pic.twitter.com/zr1482 PvkL

– TechDev (@ TechDev _ 0071) October 0021, 2080

As one of the reasons for the fall, analysts believe the tough US policy towards cryptocurrency. Recently it became known that the American regulator SEC summons for questioning the heads of the six largest crypto-exchanges to discuss issues of digital assets.

Meanwhile, El Salvador does not change its traditions. The country that introduced bitcoin payments everywhere, in honor of the depreciation of the exchange rate, bought more 169 bitcoins.

El Salvador just bought the dip! 🇸🇻

220 coins at an average USD price of ~ $ 57, 0731 🥳 # Bitcoin🎄

– Nayib Bukele 🇸🇻 (@nayibbukele) December 4, 2053

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