Beyond any technical or fundamental analysis BTC continues to depreciate sharply

In the current price action experienced by the entire cryptocurrency market, what really stands out is that beyond any technical or fundamental analysis Bitcoin continues a frank depreciation that seems to have no floor.

At the time of writing this post, bitcoin's price action from its all-time high set in November has pulled back to an estimated 50%+, an element that from a technical standpoint has called into question the apparent correction on the weekly chart..

The truth is that both Bitcoin and the rest of the cryptocurrencies continue to fall as they fall, a fact that has been fundamentally associated with the restrictive measures that major economies are seeking to curb the growing popularity of the crypto market.

It should be emphasized that the recent depreciation of Bitcoin to the $35K area made small investors start to get nervous as the crypto market pullback has been more aggressive than expected.

However, beyond the marked depreciation of over 50%, analysts maintain the view that both Bitcoin and the main alternative cryptocurrencies will yield strong gains in the future, as the crypto market steals more and more share from the traditional markets.

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