According to crypto analysts, the price of bitcoin will fall below the $5,00 level in the coming days as the graph shows that bitcoin has hit double top within six days, and a bearish flag indicates a grim future for the leading cryptocurrency.
Bitcoin is likely to crash in the coming days.
The price of bitcoin at the time of writing is trading at just above the $6,600 mark. But the short-term prediction for bitcoin is quite bearish as the graph shows that bitcoin has hit double top within six days, and a bearish flag indicates that the leading cryptocurrency is heading downwards in the coming days.
Bitcoin remains highly volatile during the global pandemic.
The price of the leading cryptocurrency bitcoin witnessed massive swings in the last ten days or so. Bitcoin has the highest volatility rate right now in the last six years. The leading cryptocurrency might be decoupling from the traditional markets, but the danger is not over yet. The coronavirus pandemic has left financial markets all over the world in shambles as lawmakers continue to work on stimulus packages to revive the global economy. Several countries around the block are under complete lockdown as the novel coronavirus continues to spread.