Bitcoin Recently Fell Through A Key Support Level“”What’s Next?

Bitcoin Recently Fell Through A Key Support Level“”What’s Next?

Several technical analysts have commented on bitcoin's recent price declines. Photo by: STRF/STAR ... [+] MAX/IPx 2021 3/13/21 Bitcoin rises above $60K to a new record high.



STRF/STAR MAX/IPx

Bitcoin prices recently dropped below their 50-day moving average (MA) and have stayed below this key level for a matter of days, a development that has prompted coverage from multiple media outlets.



However, is the recent decline as bearish as some make it seem? Several analysts have weighed in on the cryptocurrency's latest price movements, as well as their broader implications.

The world's most prominent digital currency suffered some notable losses over the weekend, falling from more than $62,000 to almost $52,o00, CoinDesk data shows.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

After bitcoin experienced this pullback, the digital asset was trading below its 50-day simple moving average (SMA), a development reported on by CoinDesk reporter Omkar Godbole, as well as other journalists.



Godbole emphasized that the digital currency could be headed for further losses if it remains below