Bitcoin (BTC) fell to its lowest level since early March 2021 on Friday, April 23rd.
At the time of publication of this review, the largest digital currency was trading at $ 48,900. BTC capitalization fell to $ 913.988 billion (-9.8%). Bitcoin was last traded below $ 49,000 on March 7th.
Recall that at the beginning of last week, BTC, on the contrary, confidently added in value. The coin was preparing to test values ​​in the region of $ 70,000 in anticipation of the release of the crypto company Coinbase on the stock market.
However, in the second half of last week after the IPO, the situation has changed dramatically. First, volatility in the market weakened, and already on the weekend, control finally passed to the “bears”.
There is an opinion among experts that the next zone of strong support is expected to be around $ 42,000.
Financier Peter Schiff has already reacted on Twitter to the drop in BTC’s bite. He once again criticized the cryptocurrency and warned investors about the volatility of Bitcoin. In his opinion, investments in the crypto sphere should be avoided.
If @michael_saylor is correct that the higher the #Bitcoin price rises the less risky it is to buy, then it must also be true that the lower the Bitcoin price falls the riskier it is to own. That’s an extremely dangerous characteristic for an asset to have during a bear market!
– Peter Schiff (@PeterSchiff) April 23, 2021
Schiff emphasized:
The lower the price of bitcoin, the more risky it is to own it. This is an extremely dangerous characteristic of an asset during a bear market!
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