The cryptocurrency market as a whole is once again blanketed in red, with Bitcoin falling to a multi-month low. Bitcoin’s price has tanked for four consecutive days, breaching the psychological support level of $35,000. The probable freefall will drag BTC down to the $33,000 support level if sellers maintain this decline. According to CoinGecko, the most popular and largest cryptocurrency by market capitalization lost 4.5 percent during the past 24 hours, breaching a crucial support level and posting a daily low of $34,405. The market capitalization of Bitcoin fell to $657 billion, CoinMarketCap data show. As of March 28, this number exceeded $900 billion. Suggested Reading | APE Takes A Beating As It Sheds 50% Of Its Price The price of BTC has crashed for four straight days, breaking past the psychological support level of $35,000. (TechnoPixel) ‘Extreme Fear’ For Bitcoin BTC is presently selling at approximately $34,515, down roughly 10% in the past week and down 40% year-to-date. The Bitcoin Fear and Greed Index reached a level of “extreme fear” as a result of a loss of about $6,000 in just a few days, which inevitably caused a significant shift in mindset. Rick Bensignor of Bensignor Investment Strategies said in a note, “Bitcoin’s failure to hold key support has increased the likelihood of a severe decline.” Bitcoin has mainly followed the downward trend of equities mar...
