According to a graph posted by Bloomberg

the 50-day moving average is getting close to the 200 day moving average. If it goes below it, bitcoin will suffer a great loss.
Considering these trends and comparing these activities to BTC’s price in 2013, technical analyst Paul Day from Market Securities has claimed that the value will drop to $2,800.

2013 is often remembered as one of the worst crashes in BTC history. First, the price dropped from $233 to $67 in April, a 71% drop in 12 hours, then the price remained extremely volatile . It broke records on Nov. 30, 2013 with a value of $1,126, but declined by 19% within 24 hours, only to recover on Dec. 5, 2013 to $1,155. The price kept decreasing by 41% and increasing by 47%, before dropping to a surprising value of $503 on Dec.19, 2013. From an all time high of the first week of December, the price had declined by 56%.
The price drop was such that it took bitcoin over three years to finally cross the $1,000 barrier again.

Now a days value of bitcoin has seen significant losses over the last week, dropping to its lowest price since October 2017.
March saw bitcoin's price drop below $10,000, reaching a low of $6,500 before rebounding above $7,000.
We have seen that the world's most valuable cryptocurrency fall below $6,000 to an eight-month low.

3 Things Not to Do When Bitcoin is Going Down

1.Don’t try to catch the exact bottom

When you’re staring at a coins chart,wondering when it will stop. You’re trying to catch the bottom. It’s extremely difficult to catch the exact bottom on a trade. So difficult that it’s often called, “catching a falling knife”.

2.Don’t sell your coins for ones that are going up

It seems like everytime I abandon ship on a coin to FOMO into another one, the coin I sell goes up. FOMO stands for Fear of Missing Out, it’s a common fear that causes a lot of bad decisions in trading.

3.Don’t stare at the charts all day

Trust me, I’ve tried. When I first started trading I used to spend countless hours for seeing Charts. A lot of those hours were wasted. Sure, I spent a lot of time actually studying and applying what I learned to my trading, but I also spent a lot of time aimlessly staring at a computer screen for hours on end.

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