- BTC once again dips below $40K.
- Analysts predict BTC to be completely bearish till March end.
- Most altcoins are low following BTC, ETH down by $2.7K.
Just as we all hoped for the crypto market to surge above the break even point, once again the much struggling market falls down! True to the fact, the king of the cryptos, the Bitcoin (BTC) once again dips down. Again, BTC falls below the staggering price range of $40K on February 18, 2022.
Moreover, this accounts for the lowest price of the BTC for the past two weeks. Accordingly, though the entire crypto market didn’t surge efficaciously, it however tried to maintain a nominal growth pace slowly.
BTC’s Bearish Trend Predicted
The past 48 hours indeed witnessed a tragic fall of BTC, once again reaching below $40K. The last time BTC was tarded below $40K was on February 4, 2022. Currently BTC trades at a price of $39,843.47, with the graphs plunging down at 3.79% taking into account the past 24 hours.
On February 17, 2022, BTC was trading at a price of $44K and above. However, since then, it dropped down evidently. Apart from BTC, almost 50% of the prominent altcoins too faced the same fate as BTC.
Accordingly, the Ethereum (ETH), too followed the same path as BTC, plunging down for the past 2 days. From a price range of $3.1K, the price of ETH fell down reaching lows of $2.8K, a few hours back from the time of writing. In spite of this, the graphs are down, at 4.53%, taking into account the past 24 hours. In addition to all this, the overall market cap of the entire crypto industry has fallen down about 5% abruptly.
Furthermore, such a change in the market, provoked analysts to take a closer look at BTC. And so, many analysts including Rekt Capital, term that BTC is completely heading bearish according to the graphs and statistics. Moreover, analysts term that BTC will suffer such bearish periods predominantly till the end of March, 2022.
All this indicates that the BTC has fallen into a complete highly volatile asset. Only time has to tell, whether BTC along with the entire crypto market will surge up, with an overall hike upon the market cap.
