Bleeding – The price of Bitcoin (BTC) shakes the $ 20,000. The life-saving rebounds are slow to arrive. On the upside, traders and analysts prefer to expect a spectacular return below … $ 10,000.
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Bitcoin price close to $ 20,000: No plant price found?
The price of Bitcoin is falling up to about $ 20,870 at Bitfinex today, June 14, 2022. He later manages to reconnect with $ 21,000. The cryptocurrency is trading at $ 21,595 at the time of writing. Its price currently records a daily loss of 4%.
Therefore, markets are not entitled to it a bullish reboundafter yesterday’s fall, June 13, 2022. And today’s declines are even more worrying for traders and investors.
Trading company QCP Capital talks about the dangers of Bitcoin now “uncomfortably close” to $ 20,000. The price of cryptocurrency would fall victim to some of the inflation. He would also suffer the fear of “impact and contagion” from a possible Celsius insolvency.
This situation could be further exacerbated if support for the 200-week moving average is broken. This support has shown its strength in the past.
Trader Rekt Capital, however, points out differences with previous bear markets. The volume influx would not be so strong this time.
For the trader, a fall below this average would increase this volume inflow to the level of this essential support. Undoubtedly, this theory has the advantage of being reassuring.
However, it does not take into account any panic sales after a break in this important medium. In this case, the price of Bitcoin could return to levels well below $ 20,000.
Traders and investors should not rule out this apocalyptic scenario. Whalemap analysts have also shared a chart that reveals two key points:
- The old Bitcoin realized that price supports are likely to become new resistances;
- the final floor price could be $ 13,331.
Other prospects are even more pessimistic. Analyst Francis Hunt move forward the possibility of a return on the price of Bitcoin between $ 8,000 and $ 10,000.
The bulls are unable to get rid of the pool of blood in the markets. Fear invades the markets. Obviously, this sentiment is far from conducive to a bullish recovery in the price of Bitcoin.
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