Crypto Daily – Carnage is taking place in the cryptocurrency space. has stepped over the brink and has fallen to $54,000. And it probably isn’t even over yet. The main support at $51,000 awaits below. Could $BTC fall even further than this?
A full 30% correction coming?
It has been a wretched week for Bitcoin and the cryptocurrency market. The Alpha crypto currency fell nearly 15%, which equates to a loss of around $9,300. This is also now a 27% reversal since those heady days of the $73,800 top. If Bitcoin continues down to the major support at $51,000, this will have been a full 30% correction.
So what are the chances of Bitcoin getting down to that $51,000 level? The indicators would say that they are pretty good. The $BTC price is currently hanging on by a fingernail to some minor support at $54,600, but has already gone lower than this, and earlier on Friday it reached as low as $53,250.
Lowest crypto sentiment for last 12 months
Source: Alternative…
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