{"id":46465,"date":"2022-04-12T12:38:59","date_gmt":"2022-04-12T10:38:59","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=46465"},"modified":"2022-04-12T12:38:59","modified_gmt":"2022-04-12T10:38:59","slug":"btc-dropped-below-39k-again-whats-next","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/btc-dropped-below-39k-again-whats-next\/","title":{"rendered":"BTC Dropped Below $39K Again; What’s Next?"},"content":{"rendered":"

Having fallen below $40,000<\/strong> for the first time in nearly a month over many days, bitcoin made another severe tumble yesterday<\/strong>. BTC is currently being traded at $40.1K<\/strong>. The majority of cryptocurrencies were also in the red yesterday and slightly recovering, with ETH<\/strong> trading at about $3,000, BNB<\/strong> about $400, and Cardano<\/strong> falling below $1 per coin.<\/span><\/p>\n

A week ago, Bitcoin was unable to surpass the $47,000 level<\/strong>, and the bears took advantage of the situation to retake almost entire control over the market. They decreased the value of the principal cryptocurrency from $45,000 to $43,000<\/strong> throughout the following few days.<\/span><\/p>\n

Has the bull market come to an end?<\/span><\/h2>\n

But that was not the end, as Bitcoin’s price plummeted<\/strong>. While that was a troubling retracement in and of itself, the situation deteriorated significantly over the next several hours.<\/span><\/p>\n

The asset’s value continued to plummet until it eventually settled at roughly $40,000, which it promptly lost. Bitcoin’s price dropped to $39,200<\/strong>, marking the cryptocurrency’s lowest point in nearly a month of trading.<\/span><\/p>\n

Since then, Bitcoin<\/a> has recovered and gained almost $1,000. Therefore, it is now just above the coveted $40,000 barrier<\/strong>, but its market value has dropped significantly.<\/span><\/p>\n

\"\"<\/p>\n

Most coins experienced significant retracements yesterday, and the current scenario is extremely precarious.<\/span><\/p>\n

Ethereum<\/strong> fell below $3,000 for the first time in three weeks<\/strong>, marking a new low. Even though the second-largest cryptocurrency is currently above that particular mark, it is still down more than 4 percent daily.<\/span><\/p>\n

Binance Coin had fallen below $400 at one point<\/strong>, but it has since recovered and is presently trading above $400. Ripple, Terra, Avalanche, Polkadot, Dogecoin, and Shiba Inu<\/strong> have been down by as much as 6 percent in the past week. Cardano is in the same boat, as its value has fallen below $1.<\/span><\/p>\n

Compared to the higher-cap altcoins<\/strong>, the lower- and mid-cap altcoins are nearly comparable, and the entire market capitalization has dropped by another $70 billion<\/strong> since yesterday. $300 billion<\/strong> has vanished from the metric’s value in little than a week.<\/span><\/p>\n

The value of stocks and bonds decreased due to these remarks, with which Bitcoin has had a strong link<\/a> in recent months.<\/span><\/p>\n

The recent drop in the price of Bitcoin and many other coins can show another bear market period for cryptocurrencies<\/strong>. Although many think it can be a correction and is needed in bull trends<\/strong>, many others think the winter will be long enough. Bit April was often a green month for cryptocurrencies, and this month is showing a different trend. Maybe the market can recover in the coming months<\/strong>, but the correlation<\/strong> with other markets and the overall crisis in financial markets is still worrying.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Having fallen below $40,000 for the first time in nearly a month over many days, bitcoin made another severe tumble yesterday. BTC is currently being traded at $40.1K. The majority of cryptocurrencies were also in the red yesterday and slightly recovering, with ETH trading at about $3,000, BNB about $400, and Cardano falling below $1 … <\/p>\n

Read more<\/a><\/p>\n","protected":false},"author":13,"featured_media":46470,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,70,74],"tags":[4930],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/46465"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=46465"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/46465\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/46470"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=46465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=46465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=46465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}