2024

Bitcoin

Time

The post <a href="https://coinpedia.org/price-analysis/bitcoin-dropping-from-48000-to-41500-is-there-a-reason-to-get-panic-here-is-what-you-need-to-know/">Bitcoin Drops From $48,000 to $41,500: Is It Time to Panic? Here is Everything You Need to Know!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With a massive drop of over 12% in just a few hours, market sentiments appear to have flipped in bearish favour. In the meantime, some have also begun to look out for the lower targets at $10,000. Amid the bearish speculation over the impending trend, the probability of the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">BTC price</a> triggering a fresh descending trend emerges. With this, is there any reason to fall into a FUD trap, expecting the price to reach the lower targets?&nbsp; 
The year 2023 has historically been a bullish year, with the Bitcoin price recording over 180% growth. As a result, the bulls have gotten exhausted, which has caused a minor pullback in its prices. However, the BTC price, in the long run, continues to remain under bullish influence, which suggests the ascending trend could be revived very soon.&nbsp; 
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The long-term price suggests Bitcoin is well-positioned to form a new ATH in late 2024 or early 2025. The 2022 bear market compelled the price to drop below the lower trend line, which attracted significant liquidity, triggering a healthy rebound. After maintaining a notable upswing throughout 2023, the levels have risen above the trend line. Moreover, the price appears to be heading towards the apex of the ascending triangle, which may further initiate a fresh bullish trend.&nbsp; 
Historically, Bitcoin has undergone multiple downfalls on its way to forming a new ATH. Back in 2016–17, the price faced a 30%–35% plunge more than five times to mark the highs above $19,000. Later, during the 2021 bull run, the token also faced a similar bearish action to mark new highs close to $69,000. Now that the BTC price is facing fresh bearish action, it may be another pullback before marking new highs, probably $100K.

Bitcoin Drops From $48,000 to $41,500: Is It Time to Panic? Here is Everything You Need to Know!

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