Bitcoin Volatility Continues… Could Bitcoin Price Lose $20K Level?
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Answer Bitcoin Volatility Continues… Could Bitcoin Price Lose $20K Level?
In the last 24 hours, the bitcoin price retreated from the levels of 21 thousand dollars, and it lost minutes before the 20 thousand dollars level, to trade at the time of preparing the article between 19 and 20 thousand dollars.
The decline of Bitcoin, as usual, withdraws most of the alternative digital currencies with it.
At the time of publishing the article, most of the alternative and large digital currencies on its head were colored red, thus losing the market more value as the total market value fell to 900 billion dollars.
Is it possible for Bitcoin to lose the $20,000 level?
Troy Jaysky, chief market strategist at FS Investments, believes that cryptocurrencies could face more selling pressure if money supply growth is taken away.Read:Kazakhstan presents the first bill on cryptocurrency mining activity
Meaning that if the US Federal Reserve cuts its balance sheet, it will be a major downside catalyst for Bitcoin.
You shouldn’t have more cryptocurrency than you can afford to lose.
Bitcoin is currently changing slightly above the $20,000 level after giving up recent gains along with US stocks on Tuesday.
According to Gesky, crypto is still one of the asset classes that could multiply in value five times over the next four years.Read:Cryptocurrency trading company CoinEx and its initiative to donate books to children reaches the Arab region…Details here
Earlier, CoinGecko data showed that Bitcoin is down more than 70% from its all-time high.
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