Bitcoin continues to face the same critical resistance, as price is expected to fall below $5,000.

The price of bitcoin is still facing the same critical resistance after witnessing a wild weekend. Bitcoin dropped below the $6,000 on Sunday and reached $5,850 before making a recovery above $6,000 on Monday.

The bitcoin still has not been able to recover from the damage it witnessed on 12th March, when the price of the leading cryptocurrency plunged to historic lows within a space of few hours. Currently, the short-term prediction of bitcoin is quite bearish.

 

Bitcoin is likely to fall below the $5,000 mark in the coming days.

The price of bitcoin is currently trading just above the $6,200 mark, but the cryptocurrency has been highly volatile during the last few weeks, and the price is expected to make a massive downside movement pretty soon. The price of bitcoin has not been this volatile in the last six years, and it seems like it will remain highly volatile for the coming weeks too.

 

Financial markets continue to crash amid the global pandemic.

The global financial markets are facing a tough time as over 2 billion people in the world are under some sort of lockdown, leaving the world economy at a halt. So far, over 600,000 people have been tested positive and over 28,000 people lost their lives to the COVID 19. This global pandemic has also hit financial markets all over the world. Governments all around the world are trying to bail out financial markets, but so far, markets have failed to respond.

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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