**Bitcoin’s price has dropped below $50,000 on early Friday, sending the whole crypto sector into the red**
[Bitcoin falls below the $50K zone – DecentraNews – Metaverse, MANA, LAND, ETH, NFT’s and Crypto News](https://decentra.news/bitcoin-falls-below-the-50k-zone/)
The price continued to decline below 50K on early Friday morning and is changing hands around $49.5K as of writing, which represents a drop of more than 8% over the past 24 hours. The price drop follows news in the U.S. hours that President Joe Biden was said to propose increasing tax for the wealthy on capital gains by as much as 100%.
In my opinion, the bull run has yet to end. Institutional investors are taking advantage of tax the [FUD](https://decentra.news/the-only-trading-tips-you-will-ever-need/) while uncertainty is high. If you are interested you can read my technical analysis.
Otherwise, be wary of what you read in the news.. And HODL STRONG!
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