The crypto market has been blushing en masse today. The explanation for this is Bitcoin’s recent drop below $47,000.
The first cryptocurrency reached a long-term high on May 12 at 22:00, losing $7.5 thousand. On May 13 at 00:04 (UTC), the price dropped to a new monthly low of $46,980. (CoinMarketCap data).
After that, the price of BTC recovered a bit, and the coin is now trading in a tiny channel of 51-48 000 dollars for the past twelve hours. On the Bitcoin price table, there were two red candles at $48,933 and $48,612 during this period. On the other hand, Bulls bought the decline, and BTC’s lower price remained.
On April 26, 2021, the current minimum is below the red candle. Remember that Bitcoin fell from its all-time high of $64.5 thousand to a low of $47,946 in just 12 days. The market has yet to recover from that plunge, and the new red candle has only made matters worse.
The graphics and other cryptocurrencies turned red after Bitcoin. Daily losses in the top 20 cryptocurrencies may reach 20%. DOGE (-20.5%), EOS (-20.02% ), BCH (-17.62%), and EOS (-20.02%), BCH (-17.62%), and EOS (-20.02%), BCH (-17.62%), and EOS (-20.02%), BCH (-17.62%), and EOS (-20.02%), BCH (-17.62%), and EOS (-20.02%). LTC (Long-Term Care) (-16.2%). ETH has lost 12% of its value.
The value of altcoins continues to rise on a regular and weekly basis. Only Cardano (ADA) has a growth rate of 2.16 percent and 6.30 percent in the top 20.
According to them, Bitcoin’s decline is that Tesla has stopped accepting BTC tokens as payment. This piece of information was a stab in the back. “And you, Brutus!” we’re going to say Elon Musk.