Bitcoin Goes 10% Down and Crashes Below $50,000
Bitcoin lost 10% of his value in 12 hours, crashing below the level of $50,000. The background for this was set back on April 17th when the $60,000 range was declined, and Bitcoin lost 20% within one hour. As the markets consolidated on $55,000 level, bulls failed to resist, and bears took over the market.
The correction is explained by the massive fixation of the income, and the analyst of JPMorgan warned that this might happen. The discussions between Bitcoin enthusiasts and skeptics on social media escalated. Skeptics make fun of the enthusiasts but pro-Bitcoin influencers stay calm and keep believing in it.
Ethereum followed Bitcoin as it usually does and lost 8% of its value. Within a week, Ethereum lost 11% while Bitcoin lost 21%, but overall it feels good recently hitting a new ATH above $2,600.