{"id":233806,"date":"2021-04-23T08:33:57","date_gmt":"2021-04-23T05:33:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-tumbles-10-in-12-hours-to-trade-below-50000\/"},"modified":"2021-04-23T08:33:57","modified_gmt":"2021-04-23T05:33:57","slug":"bitcoin-tumbles-10-in-12-hours-to-trade-below-50000","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-tumbles-10-in-12-hours-to-trade-below-50000\/","title":{"rendered":"# Bitcoin tumbles 10% in 12 hours to trade below $50,000"},"content":{"rendered":"

“# Bitcoin tumbles 10% in 12 hours to trade below $50,000 <\/strong>”
\n<\/p>\n

The price of Bitcoin has fallen below $50,000 for the first time since March, with BTC shedding roughly 10% in the last 12 hours.<\/p>\n

On April 17, the $60,000 range was rejected, driving a crash in the Bitcoin price of nearly 20% in a single hour. While the markets consolidated near $55,000 for several days, bulls failed to defend the range on April 22, resulting in sustained bearish action over the past day.<\/p>\n

Yesterday, Cointelegraph reported that significant profit-taking in the Bitcoin markets may suggest an impending local top, with today\u2019s slump app<\/a>earing to confirm the hypothesis. Analysts from JP Morgan similarly warned<\/a> of sustained bearish action should BTC fail to reclaim the $60,000 level.<\/p>\n

The move below the psychological $50K mark has prompted mixed reactions on Twitter<\/a>, with Messari researcher Mira Christanto noting<\/a> the markets have only retraced from the all-time high by 23% \u2014 significantly less than the typical pull-backs experienced during the 2017 bull run that produced losses of 35% on average.<\/p>\n

But notorious gold bug and crypto-skeptic, Peter Schiiff, was also quick to comment on the market action, poking fun at Bitcoin proponent Anthony Pompliano.<\/p>\n

\n

Now that #Bitcoin<\/a> is back below $50k I think it’s time for @APompliano<\/a> to tweet out $1k milestones on the way down the way he did on the way up.<\/p>\n

\u2014 Peter Schiff (@PeterSchiff) April 23, 2021<\/a><\/p><\/blockquote>\n