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DOMAINS TOKEN-G

Ronald Maguire

12 May 2022 196 Read Crypto , Bitcoin

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Bitcoin Price Reaches Its Lowest Since December 2020

Bitcoin price has dropped to its lowest level in the last 16 months, as low as $26,600. BTC is currently trading at $28,060 after the mass sale of cryptocurrencies triggered by the collapse of UST, one of the largest stablecoins in the market. This price of Bitcoin very well reflects the risks of algorithmic stablecoins. Bitcoin price has dropped 29.1% in the past month.

Bitcoin Has Signals of Negative Momentum

The RSI on the daily chart shows oversold similar to January 24, 2022 and May 20, 2021. Oversold conditions may persist for several more weeks.

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