Bitcoin traders appear to be throwing in the towel and coming to terms with the reality that BTC price could fall below $50,000 in the short term.
Bitcoin (BTC) price is trading 10% above the eight-month low of $49,577, reached on Aug. 5 and traders fear new lows under $52,000 could occur before a reversal takes place.
BTC/USD daily chart. Source: TradingView
On Sept. 6, Bitcoin extended the correction, dropping more than 5.9% from a high of 56,984 to reach an intra-day low of 53,613.
