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Title: Bitcoin’s Crash to $50K: A Bullish Sign or the End of the Run?
As I’ve been following Bitcoin’s price action closely, I must admit that it’s disheartening to see a significant drop like this. However, as a trader and crypto enthusiast, I believe it’s essential to keep a balanced perspective and consider multiple scenarios.
Firstly, let me acknowledge that a 60% gain is still an impressive performance for Bitcoin, especially when compared to more traditional assets. Despite the current downturn, it’s crucial to recognize that this cryptocurrency has already defied numerous expectations in recent years.
Now, regarding the short-term outlook, I want to highlight two possible scenarios: the first one being a potential recovery above the psychological $100K threshold and the second one involving further decline below the 200 EMA around $75,000.
Source: u.today
