Bitcoin (BTC) Price Prediction: BTC/USD Slumps above $40K as Bitcoin Risks Further Decline ByAzeez MustaphaPRO INVESTOR Updated: 17 February 2022 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage BTC Price in a Downward Correction as Bitcoin Risks Further Decline- February 17, 2022 Today, Bitcoin’s (BTC) price faces rejection at the recent high as Bitcoin risks further decline. Since February 8, BTC/USD has been confined between $41,800 and $45,000 price levels. The largest cryptocurrency is likely to encounter a price breakout or breakdown when the range-bound levels are breached. Resistance Levels: $70,000, $75,000, $80,000 Support Levels: $50,000, $45,000, $40,000 BTC/USD – Daily Chart Buy Bitcoin Now Following the rejection at the $45,000 overhead resistance, BTC price has resumed a downward move. The bears are likely to push BTC prices to the lower price range. For the past week, the largest cryptocurrency has been trading in a tight range between $41,800 and $45,000 price levels. On the upside, Bitcoin will rally to the $50,000 psychological price level if the bulls overcome the $45,000 resistance level. Later, the bullish momentum will extend to $52,000 high. Today, BTC price has been declining to the downside. Nonetheless, if the bears succeed in breaking below the $41,800 support, the downtrend will resume. Bitcoin will decline to $39,000 low. Banning Bitcoin Is Same as the Internet, by Anton Siluanov Russia’s finance minister Anton Siluanov has indicated that banning Bitcoin is the “same as banning the internet, which is impossible”. However, Elvira Nabiullina who is Bank of Russia’s governor argued that banning Bitcoin in Russia was “quite doable.” According to the finance minister, regulating the cryptocurrency industry is better than banning it as this would allow the government to finally monitor the market. “What’s wrong with that, I don’t understand why it should be banned,” Siluanov said at the briefing. According to the minister: “The Central Bank wants to put an outright ban on crypto assets, arguing that this creates risks, primarily for citizens and can ‘infect’ financial institutions, banks as well as create an opaque settlement market” BTC/USD – 4 Hour Chart From the recent price action, Bitcoin’s (BTC) price is approaching the $40,000 psychological price level as Bitcoin risks further decline. It appears that the crypto will retest or find support above the $39,000 breakout level. Looking to buy or trade Bitcoin (BTC) now? Invest at eToro! Buy Bitcoin Now 68% of retail investor accounts lose money when trading CFDs with this provider Read more:• How to buy cryptocurrency• How to buy Bitcoin Join Our Telegram channel to stay up to date on breaking news coverage