SpyLoaded Forum
Science/Technology/Business/Editoria => Business => Topic started by: Yakub Oloyede on April 23, 2021, 03:54:57 PM
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(https://static.coindesk.com/wp-content/uploads/2021/04/btcbpiu121-345x222.png)
Bitcoin has fallen below the $50,000 psychological support line, hitting its lowest point in 48 days.
At around 17:00 UTC on Thursday, bitcoin’s (BTC) price fell from around $54,900 to $51,500 before the markets inflicted another sell-off to $48,300, according to Bitstamp exchange data. Prices are currently hovering around $49,200, representing an 8% drop or loss of about $4,300 over the previous 24-hours, according to CoinDesk’s bitcoin price page.
“On-chain data suggests we’re still in a long-term bull market,” Ki Young Ju, CEO of South Korea-based blockchain analytics firm CryptoQuant, told CoinDesk. “In the short term, we might have a correction and going sideways in a broad range since the market is over-heated among retail investors.”