Bitcoin has reduced its previous support level earlier this morning during a mass sale, leading to a further decline of several months in the aggregate crypto market. BTC has continued to decline throughout the day and it is unclear where it will receive any significant support that will stop its current downtrend.
A leading cryptocurrency analyst now points out that Bitcoin is very likely to move up and down in the short term, which may be driven by two important moving averages that are “punishing” the price of BTC.
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