Bitcoin has gone back up to trade at $7100 and has for now avoided the expected drop to $6000. The 50-day moving average has crossed and broken down through the 200-day moving average which generally means a bearish market is at play. Although chart analysts were expecting a massive drop the moment it happened, Bitcoin, as usual, did the exact opposite and went from trading at $6500 to the current $7K.
There have been multiple analysis on why Bitcoin could drop to $4000 or lower and there has also been analysis on why Bitcoin could reach $100K soon. At press time, Bitcoin was exactly trading at $7092 to a token with a market cap of $119 billion showing a minor but much needed 2% growth since the past 24 hours.
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