Bitcoin (BTC) fell $ 1,000 on November 26 when the long-awaited drop reached nearly $ 19,500.

BTC costs $ 17,250.
Data from the Cointelegraph and TradingView markets showed that Bitcoin / Dollar will face a lot of volatility on Wednesday.

After hitting nearly $ 19,500 in today’s trading, a period of bearish determination ensued in the afternoon that ended in a strong sell. Bitcoin then jumped to $ 17,250 thanks to a daily loss of around 5%.

Several analysts have already warned that the latest gains were linked to a dip, including CNBC host Brian Kelly and trader TonVise, who predicted a decline to $ 14,000 on Thursday.

Meanwhile, a number of measures also indicated a threatening correction. Among them is the Crypto Fear and Greed Index, which remained at an all-time high throughout November.

Stock Exchange Sells Hinged
The sudden drop in prices happened along with large investors who put BTC on stock exchanges – most likely with the goal of taking profits close to Bitcoin’s constant high of $ 20,000.

“The average flow of all exchanges increased a few hours ago. This indicates that the whales have relatively contributed BTC dollars to the exchanges, “- sums up Ki Yong Joo, the creator of the analytical resource on the CryptoQuant network, to his Twitter followers.

But long-term indicators in the chain suggest that buying pressure is prevalent. I still think that we can overcome 20,000 in a few days. ”

The stock market floats in November. Source: CryptoQuant / Twitter
Bitcoin’s main indicators support an optimistic theory of development: mining problems will grow by 7.3% in three days, and hashrate continues to grow.

At the time of publication, the Bitcoin / USD rate was at $ 17,900 after a slight recovery from local downturns.

Source: CoinTelegraph

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