Bitcoin: Why investors shouldn’t worry about BTC below $50K

investors recently had a setback as the king of cryptos’ bull rally halted. However, they should not lose confidence in BTC as a bullish pattern formed on the coin’s price chart, hinting at another rally in the coming days.The entire crypto space was filled with excitement as the king of crypto crossed the much-speculated $50,000 mark. But the trend was short-lived as the token price plummeted below $49,000.

But, if the larger picture is considered, the possibility of BTC turning $50k as its new support level is high. Investors at large also seemed pretty confident in BTC as they kept increasing their accumulation.clearly pointed out that BTC’s exchange reserve continued to decline over the last few days. A drop in the metric means that investors were actively buying BTC.Bitcoin’s Coinbase premium was green, meaning that buying sentiment was dominant among US investors.

Typically, a drop in the metric suggests that an asset is undervalued, meaning that the possibility of a price uptrend is high.To check whether an uptrend is actually around the corner, we then took a look at Bitcoin’s daily chart. The MACD displayed a massive bullish advantage in the market.

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