Bitcoin critical level: multiple at risk of liquidation

The current price of Bitcoin is US$64,137.53, and the analyst points out that US$57,000 is a critical level, and that if prices fall to that level, multiple silos may be at risk of liquidation. Analyst Joao Wedson indicated that there could be large-scale multiple liquidations if bitcoin transactions fell into the region. The current low volume of market transactions and the unusually large volume of active contracts may lead to increased price volatility in liquidation. Historical data indicate that in the past bear-market cycle prices had experienced a severe collapse of between 76 and 84 per cent. Bitcoin is currently traded at close to $64,000, and the dailies show the potential for a reverse shoulder base, which, if confirmed, could drive up to $76,000。