Mar 1, 2021

Bitcoin: When to expect the growth to resume?

The negative trend has returned to the market on February 22, in a week the bitcoin rate fell from $58 000 to $46 000. The liquidation of positions on exchanges became one of the most significant events of this week.

On Sunday, February 28, BTC fell another 5% to $45 000. Bitcoin’s capitalisation fell to $831.059 billion.
Other digital currencies are also losing value today. Ether (ETH) dropped almost 8% to $1 372 Litecoin (LTC) fell by almost 10% to $161 respectively. Cryptocurrency market capitalisation fell to $1.3 trillion.

The key support areas for BTC on February 26 were the $46 000 and $39 000 levels. After bitcoin sank below $46 000, the coin will now try to maintain positions at $39 000.

The $45 000 mark is also a strong support area. If the negative trend continues, then we should expect a quick fall to $39 000.

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Risk Awareness

Cryptocurrency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but their value is completely derived by market forces of supply and demand, and they are more volatile than traditional currencies. Trading or holding funds in cryptocurrencies comes with significant risks, including volatile market price swings or flash crashes, market manipulation. Use EUPi stable coin to secure your funds from market volatility.

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