Bitcoin Gets Crushed by Fear BitcoinCrash bitcoins btc chart BTC dump
Furthermore, there is some noise coming out of Canada that Bitcoin wallets have been seized by the Canadian government. If that is in fact the case, it for the most part wipes out the entire argument of “being out of the system.” While I think it is a little early to call the end of crypto in general, the reality is that Bitcoin is an ever evolving narrative that seems to shift with the breeze.All of that being said, it looks like we are heading towards the $40,000 level.
That is an area that is significant support and if we break down below there it opens up the possibility of a move towards the $36,000 level where we had bounced from previously. Anything below that opens up the possibility of a move to the $30,000 level, and possibly even kicking off “crypto winter”, when markets do nothing for quite some time and languish at lower levels.
In that scenario, Bitcoin could find itself down at $20,000 rather quickly. The last time this happened, Bitcoin found itself near $3300I do not necessarily think that is what is going to happen, but it certainly should be noted that the 50 day EMA has been a bit like a “brick wall” for the market. This is not a good look for Bitcoin, because it was supposed to be safety from all of the nonsense. It clearly behaves like any other financial asset that is on the risk curve.
What you really need to see for Bitcoin to start rallying again is some type of risk appetite reentering the market . We clearly do not have that right now, and with all of the nonsense going on at the Ukrainian border, I do not know that we are going to get it anytime soon. Again, I am not necessarily calling for a meltdown, but I am pointing out that the downtrend is still intact as things stand right now.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BTC/USD Forecast: Bitcoin Searches for MomentumBitcoin markets initially tried to rally on Wednesday but gave up gains above the 50-day EMA.
Read more »
Bitcoin, Ethereum Technical Analysis: BTC, ETH Prices Fall Lower Against USD – Market Updates Bitcoin NewsCryptocurrency markets were trading lower for a second consecutive session, leaving bitcoin and ethereum both in the red.
Read more »
Bitcoin extends decline below $42K ahead of fresh Fed comments on inflationBitcoin follows stocks downhill with BTC under $42,000 thanks to Fed worries and geopolitics.
Read more »
Bitcoin dips before Fed rate hike cues amid warning over $9T balance sheetBTC price action shows strain as Bitcoin and stocks wait for Fed signals.
Read more »
Breaking: US State Colorado Will Accept Bitcoin For Tax Payments Starting This SummerColorado Governor Jared Schutz Polis has just announced that his state will begin accepting Bitcoin for tax payments starting this summer. Speaking to CNBC on Wednesday, the state’s Governor Jared Schutz Polis confirmed that his administration was fast-tracking a plan to roll out a framework...
Read more »
Banning Bitcoin is Like Banning the Internet, Says Russia’s Finance MinisterRussia's Financial Minister - Anton Siluanov - believes that banning cryptocurrencies is like banning the internet - equally impossible.
Read more »