Bitcoin seems to be taking it one step further

As if yesterday’s decline wasn’t enough, Bitcoin continued to plummet today.

Since December 27, 2021, Bitcoin has been inexorably in a downtrend. The cryptocurrency had occasional moments of recovery, but the overall trend is downward. That had an extra effect this week with a large share price drop of several percent in one day.

Bitcoin decline

If you thought this would be it, you’re wrong. Today the picture is not much different. At its lowest point, a drop of another three rock-solid percentages. The psychological barrier of $40,000 has not yet been broken, but due to the Bitcoin decline, the currency has bundled eerily close to this limit.

To give owners of the currency a bit of hope in the short term. The currency bounced back from that massive decline. From $40,745 on Coindesk, the coin rose to around $42,200. About the point where things went so wrong around 2:30 PM this afternoon, with that big drop to Bitcoin as a result.

There are no indications that sentiment will suddenly turn. In short, sitting out the pain is the only thing owners who have stepped up a lot can do right now.