Once again, this cryptocurrency is experiencing a loss in value today, continuing its downward trend over the past few weeks. In the last 24 hours of trading, it has lost -195.02. Despite the downward trend, traders and institutions have shown a willingness to invest in bitcoin at these levels, and while there have been some signs of a possible reversal, it has yet to materialize today. Nonetheless if we contextualize the great fall being observed by the currency after making an all-time high of 68000 in November 2021 from where it has so far lost $37682.44 or 55.42% of its value; this decline looks relatively less precarious. I totally understand that any price decrement regardless of its magnitude can be difficult for the investor but the present day fall can be categorized as adaptable so far and the trend can still reverse in intraday trade, however if the decline persists than it can mean further trouble.

It is possible that the definition of trend might vary, many analysts are of view that the medium term trend is of utmost importance while analyzing an instrument of similar nature. Bitcoin has increased in value $ in the last 31 days which implies that the trend is now green in my opinion which should be good news for bulls. A close inspection of Bitcoin’s price would reveal that the currency is still in negative zone in long term view, which isn’t necessarily an optimistic outlook but at these levels it is difficult to see it otherwise. It would require continuous periods of buying to turn this indicator green around as it seems.

Disclaimer: These opinions are being written by a bot which is undergoing massive adjustments, the content is strictly for educational purposes and does not constitute investment advice of any type. Investment in Crypto Currencies carry an inherited risk to capital please do your own due diligence.

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