It appears that the year-end rally that many cryptocurrency traders were expecting will have to wait until 2022, as the bears of () gained the upper hand on December 28 and knocked the price of BTC below the support at $ 48,000.
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Data from Cointelegraph Markets Pro and TradingView show that an early morning selloff broke BTC’s support at $ 50,000 and was followed by a second wave early in the afternoon that dropped the leading cryptocurrency to a daily low of USD. 47.318 before the bulls managed to stop the exit.
4-hour chart of the BTC / USDT pair. Source: TradingView Here’s a look at what various market analysts are saying about the reasons behind this latest correction and what to watch out for when 2021 draws to a close.
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