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Stalled Bitcoin Rally Opens Door for a Drop to $40,000 - BLOOMBERG

MAY 12, 2021

(Bloomberg) -- Bitcoin’s stalled rally is stirring some bearishness among crypto watchers after the largest token dipped below its 50-day moving average. The token could test $40,000 if it conclusively drops below $50,000, and the $64,000 level is likely a short-term top, according to Pankaj Balani, the CEO of digital asset derivatives exchange Delta Exchange. He added that a decline to less than $50,000 will stoke volatility, and that all crypto assets -- including second-ranked Ether -- “should move lower.”

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