Bitcoin Falls to $42,978.96 in Early Morning North American Trading

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BITCOIN

THUNDER BAY – Business – Crypto currency Bitcoin is down significantly to $42,978.96 US in trading this morning.

Bitcoin has been trading under the benchmark $50,000 US mark for the first week of 2022.

Forbes is reporting, “While this week’s drop in Bitcoin has been severe, the downtrend in Bitcoin has been well-established since November 2021,” said David Keller, chief market strategist at StockCharts.com.

“This pattern of distribution has pushed the price down below the early December low around 44,000,” he stated.

“Price support should be expected between current levels and the September 2021 low around 40,000.”

In the last quarter of 2021, many experts were predicting that Bitcoin would be trading at near $100,000 US by the end of the year. Those optimistic predications were missed dramatically.

Trading in crypto is always risky.