Bitcoin Price Prediction: Volatility Index Hits COVID-19 Levels, Rare Signal Predicts Drop to $50k

Quick Summary:

The implications of this downturn are vast, with ripple effects seen across various markets, including cryptocurrencies like Bitcoin and Ethereum.

Unprecedented Volatility in Traditional Markets Analyst Josh of Crypto World’s concerns are based on several worrying signs.

In the short term, Bitcoin’s daily chart shows that the cryptocurrency has recently broken below a crucial support level between $56,000 and $57,000, quickly dropping to the next support zone around $51,000 to $53,000.

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Article Details

Author / Journalist: Anjali Belgaumkar

Category: Crypto

Markets: United States

Topics: Crypto news News Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-06 @ 06:16:15 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

Article Length: 366 words

Reading Time: 3 minutes read

Sentences: 29 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinpedia

News ID: 21952234

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About Coinpedia

Main Topics: Crypto

Official Website: coinpedia.org

Update Frequency: 16 posts per day

Year Established: 2016

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

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Publisher ID: #112

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