Why is Bitcoin Falling?

 Bitcoin, the most used crypto currency in the world, entered a sharp downward trend after the last-minute statements made by Elon Musk.

  Robert Kiyosaki fell like a bomb on the agenda with his comments and analysis. Well, how many TL in bitcoin, May 18, 2021, how many dollars was 1 bitcoin, why is it falling? Breaking news with BTC / USD, charting and investing!

Robert Kiyosaki, one of the world's leading billionaires, made a bitcoin interpretation and analysis, and Kiyosaki argued that the reason for the decline in bitcoin was not Elon Musk, and he attributed the fall to the FED. Kiyosaki has announced that he will buy bitcoin, stating that the decline was temporary, arguing that the dollar was destroyed by the US Federal Reserve, which constantly minted money.

Stating that more than $ 7 trillion was printed by the FED in 2021, Kiyosaki claimed that this excess money, which was printed by the FED, prepared the end of the dollar itself, and said that there were no problems such as Elon Musk or Bitcoin.

NOTE: The information contained here is not investment advice, the explanations made have been announced and investment should not be made on the information contained here.

Dogecoin may enter an uptrend again.

The recent bad situation for Elon Musk's favorite cryptocurrency Dogecoin (DOGE) has changed in a short time. After DOGE reached up to $ 0.71, it fell sharply with Elon Musk's comments on the Saturday Night Live program and was tested even for $ 0.30.

Elon Musk continues to Support For DOGE.

While crypto money investors thought it was time for DOGE to decline, Elon Musk again took steps that would affect the whole market. Tesla and SpaceX CEO announced that they will no longer accept BTC payments as Tesla, citing the energy consumption of Bitcoin.

Musk's BTC interpretation, on the other hand, negatively affected the crypto money industry, causing the price to decline to $ 45,000 with the FUD. The loss of billions of dollars in the cryptocurrency industry only with Musk's tweets led the famous billionaire to have too many enemies.

There has even been a campaign to delist Dogecoin from the Binance cryptocurrency exchange, and it is known that Elon Musk is solely responsible. However, Musk's statement that he is working with DOGE developers and that Coinbase will list DOGE in the coming weeks has raised the price over $ 0.50 again. So now what path will be followed for DOGE?

Considering the DOGE comments of the experts, it is seen that DOGE is said to be in a very good condition right now. Popular analyst Altcoin Sherpa emphasized in his analysis published about DOGE that the price was holding support and the target for the continuation of this was $ 0.62.

Will Bitcoin rise again?

The bitcoin price fell below $ 45,000 in sale in exchange for the US. According to the technical analysis of Aayush Jindal from BTC:

Bitcoin started in a massive decline well above $ 50,000 and even traded close to $ 45,000. The price is currently trading below $ 45,000 and the 100 simple moving average. There is a rapid bearish trend line in the $ 45,000 attempt on the BTC / USD pair bracket chart (looking at Kraken).

It formed a high around $ 46,645 before the price started a new decline. There was a break below the $ 45,000 support zone. There is also a key bearish trend line with resistance near $ 45,000 on the hourly chart of the BTC / USD pair.

The main support is in the $ 42,000 zone. This is near the 1.618 Fib extension level of the upward move from $ 43,869 to $ 46,645. Further losses could require testing of the $ 40,000 support zone.

Will Bitcoin (BTC) Soar?

If Bitcoin stays above the $ 42,000 support zone, there is a reasonable chance of an increase. An initial resistance on the upside is near the $ 45,000 level and the trend line.

The main resistance is near the $ 46,500 zone. A close above the $ 46,500 level is needed to start a steady increase in the coming sessions.