Bitcoin in a dangerous place for the first time in 4 months
Bad omens for Bitcoin as the price is in a dangerous place for the first time since September
With a financial instrument you have certain psychological points. Points where, as it were, a small war breaks out. The question is always who will emerge as the winner or the loser. Bitcoin has these kinds of psychological points on often rounded values. Think 40,000, 45,000 or 50,000 dollars. And for the first time since September, Bitcoin is booming below $40,000.
Yesterday, a preliminary low of $40,562 was hit on Coindesk. This made the lower limit of 40,000 uncomfortably close. If Bitcoin were to break through that barrier and there would be no immediate ‘shelter’, the currency could fall several thousand dollars further. And that means even more hard red numbers for the well-known cryptocurrency.
Bitcoin has bounced back a little after yesterday’s drop, but you can’t call it a recovery. The price is not looking good for that. You should therefore consider the scenario that the crypto coin flips through that 40k as realistic.
Bitcoin September 2021
As mentioned, the price of Bitcoin, about four months ago in September, was in the same boat. Then the $50,000 coin dropped toward 40,000. Then the price went up again with a all time high of nearly $70,000. But you know what they say: past performance is no guarantee for the future.
