{"id":12574,"date":"2022-11-13T11:54:43","date_gmt":"2022-11-13T11:54:43","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/11\/13\/bitcoin-could-drop-below-16k-as-the-bearish-trend-continues\/"},"modified":"2022-11-13T11:54:43","modified_gmt":"2022-11-13T11:54:43","slug":"bitcoin-could-drop-below-16k-as-the-bearish-trend-continues","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/11\/13\/bitcoin-could-drop-below-16k-as-the-bearish-trend-continues\/","title":{"rendered":"Bitcoin could drop below $16k as the bearish trend continues"},"content":{"rendered":"

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Bitcoin has misplaced greater than 20% of its worth over the final seven days and could file additional losses this week.<\/strong><\/p>\n

The cryptocurrency market has recorded maybe its worst week to this point this week. Bitcoin and the different main cryptocurrencies have been underperforming over the previous few days.<\/p>\n

Bitcoin<\/u><\/a>, the world\u2019s main cryptocurrency, has misplaced greater than 20% of its worth over the final seven days. It was buying and selling above $20k per coin per week in the past however is now buying and selling round $16,500 per week.<\/p>\n

The bearish efficiency comes following the collapse of the cryptocurrency trade FTX. FTX was considered one of the prime 5 crypto exchanges in the world, and its collapse has thrown the crypto market right into a deep bearish trend.<\/p>\n

The crypto trade filed for\u00a0Chapter 11 bankruptcy<\/u><\/a> final week following its collapse. The complete cryptocurrency market presently stands at round $831 billion, having misplaced greater than $150 billion over the previous few days.\u00a0<\/p>\n

With Bitcoin holding its floor above $16k, the main cryptocurrency could file additional losses over the coming days.<\/p>\n

Key ranges to look at<\/h2>\n

The BTC\/USD 4-hour chart is extraordinarily bearish, as Bitcoin has been underperforming over the previous few days. Bitcoin\u2019s technical indicators present that the bears are presently in management.\u00a0<\/p>\n

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BTC\/USD Chart By TradingView<\/strong><\/u><\/a><\/p>\n

The MACD line is deep inside the destructive territory, indicating that the bulls won’t regain management for some time. The 14-day relative energy index of 35 reveals that Bitcoin could enter the oversold area if the bearish trend continues.<\/p>\n

At press time, BTC is buying and selling at $16,620 per coin, down by greater than 1% in the final 24 hours. With the bears nonetheless in management, BTC could dip below the $16,004 help degree in the close to time period.<\/p>\n

In the occasion of an prolonged bearish run, Bitcoin could commerce round the $15,669 degree for the second time in per week.\u00a0<\/p>\n

Where to purchase Bitcoin now<\/h2>\n

\n eToro<\/h3>\n

eToro gives a variety of cryptos, such as Bitcoin, XRP and others, alongside crypto\/fiat and crypto\/crypto pairs. eToro customers can join with, be taught from, and replica or get copied by different customers.<\/p>\n

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