The post Bitcoin Analysis Indicates Imminent Price Drop to $48,000! appeared first on Coinpedia Fintech News
Bitcoin has been trying to cross the $70,000 mark in order to create a new ATH. Since BTC marked $73,000 as the all-time high of this season, the market has been waiting for another one. However, various factors that include market and non market elements have been preventing it from happening. These reasons include Mt. Gox repayment, German government selling off seized 50k Bitcoin, political uncertainty in the U.S., multiple hacks. Now that all these things have been in the past, why is btc still not rising to $100k? Let’s explore the reasons.
Bearish Chart Indications
At the time of writing, Bitcoin is trading at $58,129. The moving averages on a daily chart have been tangled badly. The 20 daily moving average has crossed down all the other MAs in the last week and is sitting at around $59,800 and acting as a resistance. 200 MA has crossed every other movin
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