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Bitcoin Second Wave

Bitcoin Second Wave of Bearish Trend: What are the chances?

Bitcoin Bulls haven’t recovered yet from the Weekend drop of Bitcoin and if a second wave strikes, Billions of dollars will be liquidated, again.

The Bitcoin price today is $48,780.67 USD with a 24-hour trading volume of $37,086,836,766 USD. Bitcoin is down 1.53% in the last 24 hours with a market cap of $921,609,752,794 USD. It has a circulating supply of 18,892,931 BTC coins.

Bitcoin Second Wave
Source: Tradingview

Bitcoin Second Wave: Analysis

Bitcoin has dropped more than 40% in the last 20% days and currently trades below the $50,000 mark. Bitcoin is standing very fragile support, I’ll call it, as there is not much trade volume in this area. Bitcoin dropped to $42,000 last Saturday liquidating more than $2.25 billion in 24 hours. I think there might come a second wave of drop pushing it to the local support of the $40,000 mark. The local resistance we have above is at $51,000.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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