Bitcoin fails to break above the $50,000 level
By Alejandra Zamora
Date: Thursday 23 Dec 2021
(Sharecast News) - Bitcoin still fails to break above its $50,000 resistance, despite a brief rally on Wednesday. Meanwhile, bulls continue to wait for the queen of cryptocurrencies to break this important price level and manage to stay above it.
Due to a recent sell-off in the financial markets caused by concerns over the Covid-19 variant, Omicron, Bitcoin currently trades below $50,000.
In general, cryptocurrency markets have been extremely volatile in 2021, with Bitcoin falling approximately 56% between April and June and then reaching its all-time high in November, only to fall once again due to concerns over the Omicron variant, among other factors.
As for Ethereum, it´s up less than 1% as it continues to struggle with resistance at $4,000, which was previously its support.
All in all, 2021 has generally been a landmark year for cryptocurrencies, "with the blockchain space attracting a significant amount of capital thanks to the launch of exchange traded funds (ETFs) and greater awareness among investors," stated reputable analyst, Naeem Aslam.
However, "despite the volatility, it is important to note that inflows to the crypto sector have been very consistent, and institutional investors are also showing increased interest in the space," Aslam concluded.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN