TechBizWebTechBizWeb

    Subscribe to Updates

    Get the latest news about Technology and Business from all around the web..

    What's Hot

    I’ve been getting tons of “wrong number” spam texts, and I don’t hate it?

    July 3, 2022

    DeSantis benefits from ‘Trump fatigue’ ahead of possible 2024 face-off

    July 3, 2022

    Germany and Ireland attack Boris Johnson over Northern Ireland rules

    July 3, 2022
    Facebook Twitter Instagram
    • About Us
    • Privacy Policy
    • Guest Post
    • Terms
    • Contact
    Facebook Twitter Instagram
    TechBizWebTechBizWeb
    Subscribe
    • Home
    • Technology

      I’ve been getting tons of “wrong number” spam texts, and I don’t hate it?

      July 3, 2022

      Tesla’s run of record quarterly deliveries comes to an end thanks to China’s COVID shutdowns

      July 2, 2022

      Virgin Orbit successfully launches satellites during first night mission

      July 2, 2022

      Meta’s shutting down its digital wallet, Novi

      July 2, 2022

      TCL 30 XE 5G review: not bad for $200

      July 2, 2022
    • Business
    • Cyber Security

      Tips to bolster cybersecurity, incident response this 4th of July weekend

      July 1, 2022

      Jon Raper named CISO at Costco

      July 1, 2022

      2022 RSAC takeaways: Risk management vs compliance

      July 1, 2022

      3 security lessons we haven’t learned from the Kaseya breach

      July 1, 2022

      Auston Davis named CISO at Versant Health

      June 30, 2022
    • Blockchain
    • Vulnerabilities
    • Social Engineering
    • Malware
    • Cyber Security Alerts
    TechBizWebTechBizWeb
    Home»Blockchain»As Bitcoin Stares at the Psychological Price of $20,000, Will it Hold?
    Blockchain

    As Bitcoin Stares at the Psychological Price of $20,000, Will it Hold?

    June 15, 2022Updated:June 15, 2022No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp
    Share
    Facebook Twitter LinkedIn Pinterest Email

    After months of consolidation between the $28K and $32K zone, a bullish or bearish run was imminent and Bitcoin (BTC) has taken the latter route. 

    BTC was down by 30.04% in the last seven days to hit $21,292 during intraday trading, according to CoinMarketCap. As a result, Market analyst Ali Martinez believes that the next significant support level is at $20,000, which was the all-time high (ATH) price during 2017’s bullish run.

     

    He pointed out:

    “Bitcoin’s support levels below the 200-week MA at $22,500 include, the 2017 all-time high at nearly $20,000, the TD’s setup trendline at $17,600, the 2019 peak at nearly $14,000, and the psychological $10,000 level. Which one of these support levels can hold BTC?”

    Image

    Source:TradingView/AliMartinez

     

    $20,000 is a crucial level in Bitcoin’s history books because it opened the doors for more historical highs, given that it was a zone that the leading cryptocurrency had tried to break for at least three years in vain. Ultimately, $20K was breached in December 2020, igniting the fire for more institutional investments.  

     

    What if Bitcoin does not hold $20K?

    With Glassnode indicating that Bitcoin has entered the deepest part of the present bear cycle, all eyes are glued to the $20,000 level.

     

    At the moment, BTC finds itself between a rock and a hard place based on worsening macroeconomic factors like surging interest rates and inflation. 

     

    For instance, speculations are still high that the Federal Reserve (Fed) might increase the interest rate by 75 basis points (bps) on June 15. This may not be a friendly gesture to Bitcoin because interest rate hikes usually have a bearish impact, as witnessed last month. 

     

    Nevertheless, some analysts have opined that all is not lost even if BTC slips below the psychological price of $20,000. 

     

    Sam Callahan, a crypto analyst, commented:

    “If Bitcoin dropped below $20,000, I think we would see substantial buying pressure at those discounted price levels because Bitcoin’s long-term value proposition remains intact.”

    Similar sentiments were echoed by Bitbank analyst Yuya Hasegawa, who noted:

    “I think Bitcoin could go under $20k temporarily but will likely recover the level around it quickly.”

    Martinez also believes that the $16,000 would be a notable buying area because it is at the lower part of the non-bubble regression band indicator. He pointed out:

    “Bitcoin trades between the fit and lower non-bubble regression band, a signal that has marked the bottom in previous downtrends. Although BTC can test the lower band at $16K like in March 2020, this metric suggests that BTC presents a unique opportunity to reenter the market.”

    Image

    Source: AliMartinez

     

    Based on these analyses, it is not a do-or-die situation even if Bitcoin doesn’t hold $20,000. 

    Image source: Shutterstock

    bitcoin blockchain News
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Facebook Commences Trials for Digital Collectible Integration

    July 3, 2022 Blockchain

    NFT Sales Slide to a 12-Month Low Amid Crypto Meltdown

    July 3, 2022 Blockchain

    Three Arrow’s Su Zhu Puts Singapore Luxury Home for Sale

    July 3, 2022 Blockchain

    EU Agreement on MiCA May Not Favor Stablecoins

    July 3, 2022 Blockchain

    Cosmos Blockchain Developer Ignite Layoffs Employees, CEO Peng Zhong Resigns

    July 2, 2022 Blockchain

    Minima Blockchain Network Reaches 120,000 Complete Nodes, Surpasses Bitcoin Node Count

    July 2, 2022 Blockchain
    Editors Picks

    DeSantis benefits from ‘Trump fatigue’ ahead of possible 2024 face-off

    July 3, 2022

    Germany and Ireland attack Boris Johnson over Northern Ireland rules

    July 3, 2022

    Biden administration split on whether to remove China tariffs

    July 3, 2022

    Covid vaccines: how can immune imprinting help experts to rethink jabs?

    July 3, 2022
    Trending Now

    Special treatment for Tesla not in India’s ‘interest’, Ola says

    By techbizweb

    NFT Sales Slide to a 12-Month Low Amid Crypto Meltdown

    By techbizweb

    China’s rise pushes Asia-Pacific nations to embrace Nato

    By techbizweb

    https://www.nationalsportsacademy.com

    slot gacor hari ini

    http://www.inadesfo.org/

    http://www.eueomgbissau.org/

    http://www.congo-mai-mai.net/

    http://www.angelesdelafrontera.org/

    http://fifaworldcup2018schedule.com/

    http://tony4gtrmcr.co.uk/

    http://www.standrewsagreement.org/

    http://www.bob-russell.co.uk/

    http://davidmulholland.co.uk/

    http://railwayhotelenniskillen.com/

    http://www.fantasysportstrades.com/

    http://www.rainleaf-flooring.com

    http://mothersagainstguns.org/

    http://ma-coc.org/

    slot online

    http://www.paradoxmag.com/situs-judi-slot-online-gampang-menang-2021/

    http://www.paradoxmag.com/situs-judi-slot-online-terbaru-2021/

    http://slot-terbaru.net/

    Slot Gacor

    Slot Online

    Situs Slot Gacor

    http://www.appdexterity.com/

    https://cars4kids-deutschland.de/

    https://www.stretchingculture.com/

    https://www.b-123-hp.com/slot-gacor/

    https://denzstaffing.nl/

    https://ezbbqcooking.com/slot-gacor/

    https://www.mbahelp24.com/slot-gacor

    https://minhtanstore.com/slot-jackpot-terbesar/

    https://njbpusupplierdiversity.com/slot-gacor-gampang-menang/

    https://www.floridaspecialtycropfoundation.org/slot-gampang-menang/

    https://childrenscornerpreschool.org/slot-gacor-gampang-menang/

    https://cryptoquoter.com/slot-online-terbaik/

    https://alorkantho24.com/slot-gacor/

    https://ellas.xyz/slot-gacor/

    https://it.dougamatome.xyz/slot-online/

    https://www.daltercume.com/slot-gacor/

    https://josi-ana.dougamatome.xyz/slot88/

    https://josi-ana.dougamatome.xyz/slot-gacor/

    https://fastobserver.com/slot-jackpot-terbesar/

    https://www.planetexperts.com/slot-gacor/

    https://bfsolution.group/slot-bet-kecil/

    https://rustleva.co/slot/

    https://bfsolution.group/slot-bet-kecil/

    https://www.hotelcalimareal.com/togel-online/

    https://anime-game.dougamatome.xyz/slot-gacor-gampang-menang/

    https://anime-game.dougamatome.xyz/togel-online/

    https://bourbonbarrelfoods.com/slot/

    http://suneo39.wp.xdomain.jp/slot/

    https://techbizweb.com/slot-gacor/

    https://www.generalcatalyst.com/18-daftar-slot-gacor-terbaik-gampang-menang-jackpot-hari-ini/

    https://www.hotelcalimareal.com/slot-online/

    https://www.blockgates.io/slot-gacor/

    https://l12.com.br/slot-gacor/

    slot paling gacor

    https://www.donalds-hobby.com/slot-online/

    https://thecryptodirt.com/slot-gacor-hari-ini/

    http://iseta.edu.ar/aulavirtual/app/upload/users/1/1205/my_files/sbobet.html

    http://escuelavirtual.mincit.gov.co/app/upload/users/1/194/my_files/slot.html

    https://www.dev.medecinesfax.org/courses/JUDICASINO/document/slot.html

    http://www.e-archivos.org/cursos/courses/JUDICASINO/document/slot-gacor.html

    http://iesma.com.br/ead/main/upload/users/4/447/my_files/slot.html

    https://www.fundacoop.org/chamilo/app/upload/users/1/1185/my_files/slot.html

    https://fata-aatf.org/eskola/main/upload/users/3/31/my_files/slot.html

    https://uancv.edu.pe/ofinvestigacion/app/upload/users/3/328/my_files/slot-terlengkap.html

    https://micost.edu.my/EL/app/upload/users/2/209/my_files/slot-gacor.html

    https://www.academiacoderdojo.ro/elearningdev/app/upload/users/2/2442/my_files/slot-online.html

    http://campus-cidci.ulg.ac.be/courses/JUDICASINO/document/slot-termurah.html

    https://www.escueladerobotica.misiones.gob.ar/aula-ste/courses/LIVECASINO/document/slot-tergacor.html

    http://ccdipeepccqqfar.usac.edu.gt/chamilo/app/upload/users/3/358/my_files/slot-online.html

    https://cunori.edu.gt/campus/app/upload/users/7/7334/my_files/slot-online.html

    http://u-rus.com.ar/aula/app/upload/users/1/1322/my_files/slot.html

    http://icrodarisoveria.edu.it/chamilo/app/upload/users/1/1855/my_files/slot.html

    https://iestpliliagutierrez.edu.pe/clarolgm/courses/CASINO/document/slot.html

    http://pva.cobach.edu.mx/app/upload/users/7/7379/my_files/slot.html

    http://www.imb-pc-online.edu.gt/PL/app/upload/users/3/373/my_files/slot.html

    http://avcs.upeu.edu.pe/main/upload/users/3333/my_files/slot.html

    https://chamilo.fca.uas.edu.mx/app/upload/users/1/11186/my_files/slot-online/

    TechBizWeb
    Facebook Twitter Instagram Pinterest Vimeo YouTube
    • Home
    • Guest Post
    • About Us
    • Privacy Policy
    • Our Authors
    • Terms and Conditions
    • Contact
    © 2022 Tech Biz Web. Developed by Sawah Dev.

    Type above and press Enter to search. Press Esc to cancel.