Bitcoin To Drop Below $25,000?

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The bear is strong and the bitcoin prices have been plummeting since last week. After rallying within the $32,000 and $35,000 bracket for a long time, the leading crypto coin dropped below the $32,000 mark on Tuesday, last week. Exactly a week later, today Bitcoin has dropped below the $30,000 mark. 

The sell-off pressure is high and there has been no significant favourable decision that could provide impetus to the cryptocurrency market. Now, with Bitcoin dropping below $30,000, over 100 billion dollars have been cleared off of the market in less than 24 hours. The bigger question is if the market is heading towards another free-fall.

$25,000 the next stop?

Seasoned investors are prepared for all – the good, the bad and the ugly. Bitcoin has been dropping. The last time it dropped below $30,000 amidst the crash, the coin showed resistance and managed to pick itself up.

However, this time, it’s after a long struggle that the token’s prices have dropped below the $30,000 mark. And the recovery seems difficult amidst sell-off. Check other tokens including Cardano that has shed over 10% of its value in less than 24 hours. 

With the signals available, though it would be early to say but not surprising if the prices drop below the $25,000 mark for Bitcoin. Experts have already been predicting a repeat of 2017 and have reasons. As China and other Asian governments up their efforts cracking down on cryptos, a further drop in prices are not unexpected.

Utsav K.
Utsav K.
Utsav is a senior crypto journalist and has been an active member in the community from even before the first major crypto boom back in 2017. In his writings, he focuses on analysing price trends and investigating policies. If you want to understand the practical implications and uses of complex technical protocols, he is your guy.

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