{"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 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>\nHas the bull market come to an end?<\/span><\/h2>\n