That’s as one analyst said a big technical level was at present in play regarding the assets.

 Chief market analyst of AvaTrade Naem Aslam told the AvaTrade the price dip could be a sign that bulls have lost their strength. The analyst advised investors to watch for if bitcoin falls below its 50-day simple moving mean (SMA) of $58,000, which could be a sign of price support. He also said that if prices www.techtradersystem.com techtradersystem tech trader system Website tech trader system com are able to stay above that level, there could be an important rally.

 The “biggest concern among crypto traders is whether the crypto winter is coming,” said Aslam, in reference to a lengthy period of weakening for cryptocurrency that began after the highs hit in the year 2017.