Bitcoin fell below the support level on December 3rd when the media started reporting the variant and fell below the psychological resistance of $ 50,000 on December 4th. Although the Apex-Krypto already fought its way back above the level in the next session, it showed hesitation and mostly acted just above this mark when a bull-bear tug of war ensued. Bitcoin, which hit an all-time high of $ 68,789.63 on November 11, began to consolidate amid profit-taking in the sessions that followed. However, it held support around the $ 53,900 level before the Omicron variant threat began to drag it down further.
On Saturday, Bitcoin saw a rebound along with most of the altcoins. After three consecutive sessions below $ 50,000, Bitcoin has exceeded that level.
Sellers gained the upper hand on Thursday and Friday as news that Chinese real estate company Evergrande defaulted on its dollar-denominated loan was an excuse for liquidations.
Most financial assets rise thanks to the Santa Claus rally towards the end of the year. Bitcoin could expect a stronger end if it can take advantage of the recovery that is in progress.
On the last review, Bitcoin was trading 3.50% to $ 50,493.92.
Related Link: What Does Bitcoin’s Historic December Performance Say About Its Potential Year Ending Price?
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