Bitcoin has fallen below $49,000

On Monday, December 6, the price of bitcoin is falling. As of 09:55 MSK, the first cryptocurrency is trading at $48,386.58 (-1.89%), according to CoinMarketCap. Bitcoin's sharp collapse occurred on Saturday, when the rate fell to $45,000.

Ether fell to $4109.53 (-2.78%). Binance Coin fell 4.84% to $547.26.

"The cryptocurrency market experienced a shock shaking on Saturday morning. Low trading activity and previous rather narrow trading range created situation, when stop orders were pulled close to the market. As a result, the unidirectional movement following the US stock indices has triggered a snowball effect in theThe price of the market fell to $42,000 in the early morning. The fall below Friday's lows of $52,000 caused a sharp liquidation of positions in the market, with the price falling to $42,000 in the moment.
Other altcoins also fell by 10-25% as investors still couldn't stay away from such a high-profile liquidation. By the end of the day, buyers brought BTC/USD back to $48,000, but they never had the strength to push it above $50,000. On the theanalysis side, bitcoin is experiencing a crucial moment. The bulls managed to get the quotes back neatly above the 200-day moving average and the RSI index touched the 20 level, indicating oversold.
StabilizeThe rate will be higher and even a small pullback will form a positive picture that the bulls managed to defend the global growth trend. If the rate by results of Monday will fix lower than $48 000, it will be a signal that bears did not finish the game, and it is necessary to expect the further decrease, probably, in area of $40 000".


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