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Bitcoin’s suffering continues as it fails to maintain the $47,000 level

Bitcoin’s suffering continues as it fails to maintain the $47,000 level

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Answer Bitcoin’s suffering continues as it fails to maintain the $47,000 level

The suffering of the bitcoin currency continues, this time with the failure of the currency price to maintain the level of 47 thousand dollars, as the price of the currency fell to the level of 46 thousand dollars and sometimes below this level at 45 thousand dollars.

Which also caused most altcoins to also enter the red zone, with Ethereum trading at $3800, and Binance Coin close to breaking below $500.

Omicron Fears Cause Recent Bitcoin Price Drop:

Just a few days ago, the primary cryptocurrency looked more bullish when it approached $50,000 after the US Federal Reserve’s statement regarding inflation rates.

However, the price of the coin could not exceed this level and it began to gradually lose its value.

Read:New York sues a cryptocurrency exchange for defrauding thousands of users

Its price fell below $46,000 in the following days, but quickly rose to $48,000.

However, the bears continued to firmly dominate the market and pushed the price south again.

Now at the time of the article’s publication, Bitcoin is trading fluctuating between $46,000 and $45,000.

The situation of the crypto market with global stock markets is somewhat identical.

As most of the stock indices lost their value last week due to concerns about the new pivot of the Corona epidemic and American politics, as the futures contracts for the “S&P 500” index, “Nasdaq” and “Dow Jones” fell in varying proportions.

Like we told and like Bitcoin, most altcoins are also in the red today.

Ethereum lost another 2.8% of its value and is now trading at $3800.

The second largest cryptocurrency has been stuck below the required $4,000 line for about a week now.

Binance coin is down nearly 4% since yesterday and is currently trading at just over $510.

Interestingly, XRP is the only altcoin with more capital in green.

As the price of the Ripple currency increased by more than 3% and is currently trading at $0.85

Read:New Report Counts Over 10,000 Blockchain Companies in China Established in 2020

With a few exceptions, most other cryptocurrencies are in the red, causing the cryptocurrency market cap to drop by $100 billion a day, currently at just over $2.1 trillion.

Read also:

The “Grim Finance” decentralized finance project was hacked and more than $30 million was stolen

Cryptocurrency LUNA Reaches New All-Time High and Beats Binance Blockchain by TVL


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