Bitcoin will continue to fall! It will fall here! I
On July 5, Bitcoin fell to around $53,000, and the crypto market ushered in a big dive again. More altcoins have even fallen below the low point of the 2022 bear market. So is $53,000 the bottom? Pessimistic analysts believe that Bitcoin will fall again and fall to $40,000.
Bitcoin continues to fall, altcoins have suffered panic selling, and the global cryptocurrency market value is about to fall below $2 trillion. The direct cause of this decline is that Bitcoin faces a lot of selling pressure, which then collapses the entire cryptocurrency market.
Conservative views should fall to $50,000, and may see a more extreme correction to the $40,000 range. From the technical chart, the price of Bitcoin has fallen below the 200-day average. If the rebound does not return to the 200-day average, it is not optimistic about the market.
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