Bitcoin drops further below 50k in weekend trading

On Friday Bitcoin held on doggedly to the 50k level and despite testing that price point, the level held well and the price lifted back above 51,500. At that point it looked like Bitcoin could make some further progress towards 55k. In the event that did not happen and momentum stalled into the weekend. That weekend trading has been characterised by an initial drop below 47k that was not really extended at the first time of asking. However, the second move below this level this evening is delivering a further extension lower. Bitcoin has just printed a fresh weekend low at 45,377 and remains under pressure ahead of the wider Asian market reopening shortly. The downside is clearly back in focus as the lead cryptocurrency continues to suffer rising doubts about its long term future given the news from Elon Musk and Tesla last week. Bitcoin is currently trading at 45,520