Bitcoin falls to $45K in sequel to 20% BTC price crash
A failed rebound above $50,000 looks to flip the level back to resistance as $47,000 becomes a new price focus. Bitcoin (BTC) extended its losses on Feb. 23 as selling pressure took markets below $47,000 for the first time in over a week.
Fresh dive takes BTC/USD to 8-day lows
Data from Cointelegraph Markets and TradingView painted a gloomy picture for bulls on Tuesday as BTC/USD hit lows of $45,000 on Bitstamp. The losses reverse a rebound that halted Monday's 20% price crash from all-time highs near $58,000. Bitcoin bounced at $47,400 on the day to return to $54,000 before a fresh dip took hold.
At the time of writing, $47,000 was again acting as some form of focus for support, with the trajectory still unclear amid heavy volatility. Analysis of buy and sell positions produced little hope for stemming losses should that level fail, with support lacking below $46,500.
$50,000 set to become resistance again
For analysts, however, even the prospect of a more serious retracement was nothing to fear. Compared to previous price dips, the current one was a drop in the ocean.
"We’ve experienced 2018 & 2019. This is nothing," Cointelegraph Markets analyst Michaël van de Poppe summarized to Twitter followers. "Approaching bounce region for Bitcoin. I think we're close now," a further tweet added.
In an accompanying YouTube update, he forecast that should bears take hold, Bitcoin could be in for what is classic behavior for the month of March, which traditionally sees corrections.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 74.4% | 45 | $16 999.10 | 0.30% | 2.81% | $326 793 694 340 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 72% | 50 | $1 258.79 | -0.89% | 3.82% | $154 042 450 353 |  |
|
| 3 |  USDT |
Tether predictions | 94.4% | 1 | $1.000138 | 0.01% | 0.06% | $65 505 283 273 |  |
|
| 4 |  BNB |
Binance Coin predictions | 72.8% | 54 | $289.87 | -0.40% | -7.09% | $46 371 221 042 |  |
|
| 5 |  USDC |
USD Coin predictions | 92.4% | 1 | $1.000102 | 0.01% | -0.01% | $43 358 494 798 |  |
|
| 6 |  BUSD |
Binance USD predictions | 95.6% | 1 | $1.000239 | 0.01% | 0.07% | $22 157 473 654 |  |
|
| 7 |  XRP |
XRP predictions | 78% | 44 | $0.388809 | -1.23% | -3.85% | $19 541 690 215 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 63.2% | 79 | $0.103561 | 1.75% | 1.87% | $13 739 497 371 |  |
|
| 9 |  ADA |
Cardano predictions | 66.4% | 68 | $0.320391 | -1.17% | 1.19% | $11 037 404 828 |  |
|
| 10 |  STETH |
Lido stETH predictions | 91.6% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 11 |  MATIC |
Polygon predictions | 67.2% | 69 | $0.912162 | -1.15% | 6.57% | $7 967 115 477 |  |
|
| 12 |  DOT |
Polkadot predictions | 71.6% | 56 | $5.53 | -0.48% | 2.89% | $6 315 400 348 |  |
|
| 13 |  DAI |
Dai predictions | 90.8% | 1 | $1.000046 | 0.02% | 0.06% | $5 687 378 055 |  |
|
| 14 |  LTC |
Litecoin predictions | 66% | 77 | $76.27 | -0.54% | -0.95% | $5 472 754 389 |  |
|
| 15 |  WTRX |
Wrapped TRON predictions | 74% | 50 | $0.053237 | -1.60% | -0.26% | $5 412 950 383 |  |
