PRESS RELEASE: Bitcoin Plunges under $5700, Crypto Markets Follow. Two Possible Scenarios

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Panic? Might be and might be not. While bitcoin

-11.68 % plunges to under $5700 all cryptocurrency market follow. All top 10 coins are in 10-15% loss (except Tether

-0.87 % , of course) bringing negative sentiments for beginners and giving some new hopes for more experienced traders. Let me explain.

In a current situation, when no negative news appeared regarding cryptocurrency news but cryptomarkets still plunges, there are two simple answers for those who urge to know “what’s next?” .

Bitcoin plunges under $5700. Chart via Tradingview.com

Two simple scenarios

One of the most experienced traders in Lithuania indicates that at a current stage there are two possibly the most realistic scenarios which bitcoin

-11.68 % might follow and suggests to restrain from opening new positions for a while.

Scenario #1: The seller has broken important support levels and the price will move down to the next support.

Scenario #2: Smart traders spilled out all “unnecessary” long positions, bought cheaply, and now the rise might follow soon.

While no one can really say what comes next we suggest considering not to open new positions while chaos in the cryptomarkets takes place. Stay safe.

Please note: Cryptovibes.com does not endorse any decisions and is not a financial advisor. Readers should do their own research before investing funds in any financial asset. We are not responsible for any profit/loss your decisions might lead to.

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The post Bitcoin Plunges under $5700, Crypto Markets Follow. Two Possible Scenarios appeared first on Cryptovibes.com – Daily Cryptocurrency News .

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