Bitcoin collapse: traders begin to be afraid, the real one
Bitcoin is falling vertically this Saturday, a collapse that resembles, in size, that of last spring, when it was Tesla and Musk who triggered it, but which has different origins.
First of all the data and charts from Tradingview
BTC fell vertically, touching $ 42,000 for a moment and then rebounding and stabilizing at $ 47,000.
Some data:
- Binance leads the long settlement group with $ 611 million. OKEx is in second place with $ 581 million Bitmex is third with $ 120 million.
- Bitcoin's price dropped to two-month lows. One reason for the decline could be a result of the spread of the Omicron variant which has reportedly been detected in the US, UK and other developed economies.
- As a result, Bitcoin's bear market cancels the 2-month long bull market since September 29, where BTC rose more than 63% to reach an all-time high of $ 68,789.63 which was reached on November 8, 2021.
Why this vertical fall?
- Resistance to the regulation of BTC by the US authorities probably played a role;
- news about CEOs selling shares in companies they are responsible for suggests an impending crash;
- the news on the acceleration of the Taper, ie the end of the monetary expansionary policy, risks making speculation on BTC more expensive.
Is it worth buying at this point? It is not known. Some investment banks have valued $ 54,000 as BTC's fair value, but it all depends on factors, such as inflation and central bank behavior, which are difficult to assess.
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The article Collapse of Bitcoin: traders are starting to be afraid, the real one comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/crollo-di-bitcoin-i-trader-incominciano-ad-avere-paura-quella-vera/ on Sat, 04 Dec 2021 09:59:46 +0000.