The price of Bitcoin has fallen around 6% in the past 24 hours. With that, bitcoin once again slipped below $20,000 – the psychologically important price mark, at which significant support was recently established. But with the general fall in prices last night, the fear has returned. Now, crypto investors are turning to bearish price targets, fearing a final sell-off before the next bull market. Our Bitcoin price predictions:
Back below 20,000, but in fact nothing has changed
Over the past 24 hours, Bitcoin has traded between $19,565 and $20,886 in a wide range. Overall, there is a minus of nearly 6% on a daily basis. Bitcoin price also slipped into the red on a weekly basis and last month’s gains were almost completely abandoned. Bitcoin simply does not move and remains in the long-established sideways range. Because in the daily chart, BTC has been struggling with the side channel between $17,500 and $22,300 since the summer, which could only be left higher once in the meantime.
The Bitcoin price prediction has not turned much more bearish. You can also casually summarize the status quo because everything is the same.
However, the 30-minute chart does not yet show a successful bottom formation. On the contrary, the bearish volume has increased again in the last two hours. So there could be a retest of the daily low, which varies depending on the crypto exchange.
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Crypto Whales Accumulating BTC: Bullish Indicator
Crypto whales are increasingly using the current price level to accumulate Bitcoin before the next bull run. On-chain data from Glassnode reveals explosive interest in wallet addresses containing more than 10,000. The number of addresses has grown dynamically over the past few days and weeks. Such interest makes it less likely, at least temporarily, that there will be a definite sale. On the contrary, crypto whales will (hopefully) bring some stability to price action with their new BTC.
Bitcoins are massively withdrawn from FTX
Over the past 24 hours, Bitcoins have migrated from the FTX crypto exchange in almost immeasurable volume. After it fell into disrepute and is currently having difficulty proving its seriousness and, in particular, its financial stability to customers, they transferred over 20,000 Bitcoins out of FTX, so Coinglass data now shows a negative value in the FTX balance sheet. . Although this has no concrete effects on the price of Bitcoin, investor confidence has not necessarily been boosted by recent events.
Buy-the-Dip or how should Bitcoin investors react?
The entire crypto market today is suffering from the problems of FTX. Recent on-chain data might even suggest that, contrary to what was reported, withdrawals have finally stopped. It could also cause new stressors in the coming days, along with the new US inflation data arriving on Thursday, which is also capable of moving the markets and the price of Bitcoin. Bitcoin price prediction remains difficult in the short term, volatile developments are likely.
However, as a staunch long-term investor, you can keep it simple and emulate crypto influencer Crypto Rover – the more BTC drops, the more BTC accumulates. In the spirit of a manual savings plan to benefit from the average cost effect.
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Cryptocurrency crash and Dash 2 Trade continues to raise capital: 10x potential?
As the broad crypto market tumbles this Tuesday, the Dash 2 Trade pre-sale continues to be positive. In the meantime, a fundraiser of 5.7 million dollars has already been collected in less than three weeks of presales. On Twitter, more than 45,000 crypto fans are now united behind the official Twitter account. In a tough market environment, pre-sales offer the opportunity for skillful diversification, as they are less correlated with the overall market and investors appreciate new coin opportunities all the more, including potential multiplication.
Dash 2 Trade wants to build a multi-functional trading platform that takes private traders’ trading to a new level by making all necessary information accessible and processed. At the same time, there will be a variety of tools to analyze cryptocurrencies and find the best setups.
With KYC verification, auditing and a transparent team, Dash 2 Trade ranks seriously among pre-sales. With the price continually rising throughout the nine pre-sale phases, early entry could be particularly attractive if one wishes to diversify beyond bitcoin and potentially realize the massive upside potential of the new coins.
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