23.04.202115:34 Forex-elemzések és áttekintések: Bitcoin indicators sank past $50,000 mark. What awaits cryptocurrency in the near future?

The indicators of the first cryptocurrency continue to move downward, and the asset is at risk of falling to record lows. In the next few days, bitcoin quotes may drop to $42,000, or they can hold on to safe positions and stop a protracted correction. However, the immediate future of the asset is influenced by a huge number of factors, some of which can form quite suddenly.

After setting new historical records, the entire market, and especially BTC, was covered by a wave of price correction. The situation was aggravated by the news of tightening control over cryptocurrencies, as well as a complete rejection of digital assets in Turkey. Due to a combination of factors, the indicators of bitcoin have continued their downward movement for the fifth day, which risks escalating into the largest collapse in asset quotes. Over the past 24 hours, the BTC/USD pair has fallen in price by 8.7%, which led to a drop in daily trading volumes to $96.5 billion. Bitcoin has broken through the important mark of $50,000 and is quoted at $49,500 as of 10:00 UTC. Due to the sharp decline, the total capitalization of the first cryptocurrency fell to $917 billion. The total losses of traders of various crypto exchanges amounted to about $3.7 billion, and the largest individual loss reached $11.3 million.

Despite the end of the working week and the imminent easing of market pressure, bitcoin may continue to fall. This may be due to a reduction in the asset's performance beyond the vital limit of $50,000. If in the near future the cryptocurrency will not be able to return to the mark above $50,000, then we can expect a further reduction in bitcoin indicators to $45,000-$42,000. It is in this range that the maximum support for the cryptocurrency is concentrated. It is unlikely that bitcoin will not stay at $42,000, given the strong support of the market, as well as the growing demand due to the ability to enter the asset at acceptable levels and expect further profit.

However, if bitcoin still fails to gain a foothold at the $42,000 mark, then the correction will be even deeper. The crypto asset may sink to a record low in recent times at $30,000. JPMorgan strategists predicted that bitcoin quotes will continue to decline to $40,000, and the investment director of Guggenheim Partners even stated that BTC is expected to fall in price by 50%, to a level of $20,000. For the most part, these assumptions are based on the previous experience of the fall in BTC and the too rapid growth of the asset, which provokes an equally rapid and volatile correction. However, as of April 23, the situation is moving precisely in this disappointing direction.

At the same time, the market is dominated by a positive mood associated with numerous investments, as well as the continued expansion of the capabilities of individual coins (ETH, NFT, DOT, ADA). Despite the deep correction of the first cryptocurrency, it is technical in nature due to many factors. Most likely, all other things being equal, bitcoin's indicators would have stayed at around $50,000 and will soon continue to grow. The first cryptocurrency was at attractive frontiers for new investors to enter the asset. However, problems with fees, as well as a record low speed of transactions, neutralized the growing interest in cryptocurrency. Based on this, we can expect two scenarios for the development of events. With the first, more favorable, bitcoin will be able to return to the safe level of $50,000, due to the growing demand for BTC retailers over the weekend, as well as the lack of the usual pressure from the classic markets. In the second scenario, the cryptocurrency indicators continue their downward movement to the safe range of $42,000-$45,000, where they have significant chances to change the bearish trend.