The price of bitcoin has been steadily declining after moving to a maximum price of $64,986. On Sunday, a major drop in bitcoin price saw the price went down from $60,450 to $50,050 in a few minutes. I had never seen such a massive fall of more than $10 K in such a short time of bitcoin’s history.
Although the price did some correction after the decline in price but only to go further down. The price is trading under $50000 at the time of writing this article and with a southbound trend.
Investor and traders were expecting a fall in bitcoin price in March but in March bitcoin touched a high and in April I thought could go up to $70,000 but after Sunday’s fall the trade gurus predicting a further decrease.
Bitcoin price is almost at its $50000 support and is going down. But what I believe if the price goes back close to $53-55000 in the next 24-48 hours, it will rise again. But the current trend is bearish and well below $50000. The impact of this decline of bitcoin is also visible on the rest of the market, and the entire market is down by 25 to 30%.
Even the Ampleforth Coin is going down after the airdrop. The price of Ethereum has also come down from $2500 to $2100 although back a bit, close to $2200. I suspect the price of Ethereum will go further down to around $1500-1700 in the coming days (my personal view).
Now what I feel is if the price of bitcoin goes below $50000, (which is already visible) then it should stop at $45000. But the upside of the present fall is, and rate the market is going down should be the perfect opportunity for new investors to enter the crypto market.
Right now what I am expecting is that a large number of investors and crypto traders will look for opportunities in the market as expected. As is the routine trend of every market, once the market goes down, it will come up appropriately.
Since the beginning of this year, the price of bitcoin has increased very much and now it is right for the price to come down slightly. After this, new investment will also come into the market and the prices will go up again.
Note- My personal views
