BITCOIN SLIP SHARPLY BELOW $50,000.00

23.02.2021
Technical Analysis
Bitcoin failed to keep up with the increase recorded over the weekend with analysts questioning whether the crypto currency strengthened too fast.
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Prices fell by 8.2% during the European trading session, back to around $ 53,000. The world's largest crypto currency has recorded a remarkable increase this month, largely driven by purchases by Tesla Inc. and institutional investors who say Bitcoin is an attractive alternative to gold and the US dollar.
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In February alone, Bitcoin has risen over 60%. It recorded the highest price on Sunday and almost surpassed the $ 59,000 level.
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But according to Neil Wilson, chief analyst of Markets.com, new Bitcoin investors need to be prepared for huge volatility and prices to fall as suddenly as they did before.