$71,273.49
+6.9%
$3,685.54
+19.39%
$87.65
+5.17%
$30.91
+6.6%
$136.66
+1.78%
$0.00
+31.68%
$31.79
+13.67%
$0.16
+8.39%
$24.83
+6.16%
$0.00
+3.65%

Bitcoin Is Struggling To Hold Its 200-Day MA


Bitcoin has been trading at sideways price action for most of December, struggling to stay above the 200-day moving average.

After a strong October and an early November of new all-time highs, Bitcoin has encountered a blocking road in December, having lost 13.60% since the beginning of the month. This reality stands in stark contrast to a widespread belief that Bitcoin’s price would hit $100,000 by the end of the year.

At the time of writing, Bitcoin is trading at around $47,500 after having closed below its 200-day moving average on Tuesday. The 200-day MA is often used to gauge an asset’s long-term trend in traditional capital markets. An asset is generally considered to be in an overall uptrend for as long as it holds above its 200-day MA.



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