Bitcoin price has fallen to its lowest level since March 25. Most altcoins have also suffered losses.
At the end of March, the cryptocurrency market was performing admirably. The value of a Bitcoin has climbed to more than $48,000. As a result, it had reached its highest point in three months. The herd guide was followed by altcoins. ETH also had its best three-month performance.
The problem is that bitcoin depreciated a bit in April. In the beginning, it pared most of the losses, but now it has fallen below $ 44,000.
Currently, 1 Bitcoin costs about $43,400, a decrease of 4% per day and 7.8% since 7 days ago.
In comparison, 1 ETH costs 3210 USD. This is 4.3% less than yesterday and 5.5% less than a week ago. BNB costs $430. This is 2.8% less than yesterday and 3% less than a week ago.
Analysts’ opinions
In a recent interview, well-known cryptocurrency trader Rafael Zaorski explained that there may still be a flash crash on the horizon for Bitcoin, or a sudden drop in its exchange rate.
Paradoxically, this would not be a bad thing for the market. It would clear it up ahead of another wave of growth, and maybe even a fight for new ATH this summer.
Piotr Ostapowicz, analyst, investor and youtuber, also draws attention to the uncertainty that prevails on the market.
How is the market sentiment? I see that Twitter is rather divided
– he wrote on Twitter.
Fear also showed the famous Bitcoin Fear and Greed Index. Currently, it shows a value of 34, which means precisely the fear of what may happen on the cryptocurrency trading floor.
However, the current situation is not bad at all and may mean another brutal attempt to “snatch” bitcoins from the so-called weak hands on the part of whales.
Read Also: Bitcoin transaction fees are at their lowest level in a decade
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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