Bitcoin Price Keeps Heading South as Drop Below $5,200 Looms Ahead

This immense wave of bearish pressure continues to wreak havoc among all cryptocurrencies as of right now. It appears this downtrend is only growing worse as more time progresses, Even the Bitcoin price is on very thin ice right now, as the support levels are falling one after another. Sustaining the $5,200 level may be more challenging than initially assumed.

Bitcoin Price Isn’t Improving Just yet

It is painfully evident the current overall cryptocurrency market trend is anything but pleasant to keep an eye on. With all of the top markets down by 5% or more, things will not necessarily improve over the course of the weekend. Bitcoin is leading this negative trend, as it too is bleeding value at a rather alarming rate.

Over the past 24 hours, the Bitcoin price deficit has only grown worse. With a 5.22% loss, one BTC is now valued at just $5,239. It is not the value traders and enthusiasts had envisioned after what appeared to be a very solid week. The push to $6,000 has been postponed, by the look of things, although this market can always rebound when people least expect it.

Not too many people are holding out hope to see a Bitcoin ETF getting approved. In fact, those chances are slim to none. Looking forward to the VanEck SolidX Bitcoin Trust is something one could certainly do at this time. However, that decision won’t come before late October of 2019. Bringing Bitcoin to retail investors remains an ongoing struggle which is very difficult to resolve.

Even so, some solutions already exist in this regard. Grayscale thinks now is a very good time to promote their own business, as it makes investing in BTC a lot more straightforward. The downside is how investors are never in control over their investment, which may or may not be appealing to potential clients.

For those who keep a close…

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