Bitcoin está muerto, ¡viva Bitcoin!
Today, the crypto market has blushed en masse. The reason is the new fall of Bitcoin below 47,000 dollars
On May 12 at 22:00 the first cryptocurrency entered a protracted peak, losing $7.5 thousand. The price drop ended on May 13 at 00:04 (UTC) setting a new monthly low of $46,980 (CoinMarketCap data).
After that, the price of BTC recovered a little, and now, twelve hours in a row, the coin is traded in a small channel 51-48 000 dollars. During this time, there were two red candles on the Bitcoin price chart $48,933 and $48,612. However, the bulls bought the drop, and the lower price of BTC did not go.
The new minimum is below the red candle on April 26, 2021. Recall that then Bitcoin for 12 days fell from ATH (64.5 thousand dollars) to a minimum of $47,946. The market has not yet recovered from that fall, and the new red candle has only aggravated the situation.
After Bitcoin, the graphics and other cryptocurrencies turned red. In the top 20 cryptocurrencies daily losses are up to 20 percent. The hardest hit are DOGE (-20.5%), EOS (-20.02%), BCH (-17.62%) and EOS (-20.02%), BCH (-17.62%) and EOS (-20.02%). LTC (-16.2%). ETH lost 12 percent.
Units of altcoins continue to grow on daily and weekly schedules. In the top 20, only Cardano (ADA) has growth of 2.16% and 6.30% respectively.
They say the reason for the fall of Bitcoin is that Tesla has stopped accepting BTC tokens for payment. This news was a stab in the back. Well, we're going to tell Elon Musk, "And you, Brutus!"
You can find out the current price for Bitcoin and ETH on the Poloniex exchange. Let's see what the market will cook for us tomorrow.
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