On Tuesday, April 20, the bitcoin rate again fell below $ 55 thousand. As of 10:50 Moscow time, the first cryptocurrency is trading at $ 54.3 thousand, over the past 24 hours it has fallen in price by 4%, writes RBC Crypto.
The price of bitcoin began to decline sharply after it renewed its all-time high of $ 64.8 thousand on April 14. Last Sunday, the quotes of the asset fell by almost 14% per hour. This led to the liquidation of positions of crypto traders for more than $ 9 billion.
Bitcoin runs the risk of continuing the downward movement to the $ 52,000 mark, said NewsBTC analyst Ayash Jindal. According to him, now the main obstacle for the asset is at the level of $ 56 thousand, since there are a large number of sell orders. The analyst warned that if the $ 54,000 level fails, the asset price is likely to continue to fall to $ 53,000 and $ 52,000.
In order to return to growth, the cryptocurrency needs to stay above the $ 54,000 zone, Jindal explained. He noted that in this case, Bitcoin may again try to overcome the zone of $ 56 thousand and approach the mark of $ 57.5 thousand. Fixing above the price marks of $ 57.5 thousand and $ 58 thousand may lead to a change in the current bearish trend, he predicted expert.
Photo: TradingView
Tradunity founder Dmitry Lavrov also warned that the rate of the first cryptocurrency may continue to decline in the near future. According to Lavrov, now the asset can fall in price to $ 50 thousand.If this mark does not hold up, the next targets for bitcoin will be $ 42.5 thousand and $ 30 thousand.
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