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Bitcoin could 'consolidate until 2022' after mass wipeout sends BTC price to $41K
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Bitcoin (BTC) traded near $47,000 on Dec. 4 after a sudden crash confirmed bulls' worst nightmares with 22% daily losses.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting local lows of $41,960 on Bitstamp — its lowest since Sep. 30.
As panic set in, leveraged positions unwound and traders capitulated, 24-hour cross-crypto liquidations passing $2.5 billion.
"$50k is likely to be resistance for a decent amount of time now unless stonks to incredible things," filbfilb, co-founder of trading platform Decentrader, summarized in a fresh synopsis after the move.
The scale of the dip wiped out some important support levels, including Bitcoin's $1 trillion asset valuation — previously a popular choice for long bets.
As
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