Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

Btc Drops To Near ,700 After Fed Chair Powell’s Speech – Widely respected crypto analyst Nicholas Merton says Bitcoin (BTC) will continue to fall, but the smart money will eventually catch it lower and send it higher.

In a new YouTube update, the Datadash channel host tells his 491,000 subscribers that the Bitcoin market is going through a “cycle.”

Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

“If you want some relief here because we’ve already seen the price of bitcoin fall, I think it’s very realistic that we’ll go back to $600-650 billion [BTC market cap size].”

Hong Kong Crypto Platforms Freeze Accounts As Turmoil Deepens

Currently, Bitcoin’s market capitalization is $806 billion. The drop to $600 billion would represent a 25% drop, but Merton says the correction will ultimately be good for the market.

Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

“That would allow us to establish an upside or upside support line at the top of the previous resistance point in the 2017 cycle, and/or we could see it rise to around $650-700 billion sooner rather than later. Kate.”

According to Merten, smart currency buyers will look at Bitcoin’s inevitable rise as a big buy signal.

Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

Bitcoin’s Market Dominance Falls To 38% As Crypto Asset Trading Grows

Because it will be an indicator that the market has not entered a bear market.

Of course, the smart money will come in and buy the fear and drive prices higher in 2022.

Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

Disclaimer: The views expressed in The Daily Deal are not investment advice. Investors should do their due diligence before making a high-risk investment in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses incurred by you may be your responsibility. Daily Hoddle does not recommend the purchase or sale of any cryptocurrency or digital asset and Daily Hoddle is not an investment advisor. Please note that Daily Hodle participates in affiliate marketing.

Derivatives Suggest A ‘sell The News’ End To The Ethereum (ether) Rally

By joining the Daily Hoddle News list, you agree to our terms and conditions and privacy policy. Featured Image: Shutterstock/Billion Photos Cryptocurrency prices tumbled as a massive sell-off sparked by contagion concerns at China Evergrande conglomerate gripped global markets.

Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

Bitcoin fell 10.7 percent to $42,522 in New York trading hours, hitting its lowest level since early August. The pound is also below its lowest level since September 7, when the coin fell as much as 17 percent in less than an hour. Other digital assets also retreated, with Bitcoin Cash, EOS and Ether all down.

The losses reflected broader market activity as investors weighed Evergrande’s debt problems and the risks of this week’s Federal Reserve meeting. that the United States. The Stoxx Europe 600 index fell as much as 2 percent, its biggest drop since July, as stock futures turned to losses at the open.

Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

Bitcoin Price History

According to data from crypto futures trading and information platform Bybta, the pace of decline accelerated as more than 249,000 traders liquidated their accounts in the past 24 hours, removing $1.23 billion worth of crypto.

“Some have attributed the situation with China’s Evergrande to a sharp decline, which has already caused turmoil in traditional markets,” wrote Jonas Lueti, a sell-side trader at UK-based digital asset broker GlobalBlock. “Analysts have suggested a turbulent week ahead, with a possible pullback to $41,000.”

Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

While Bitcoin doesn’t always trade in tandem with financial markets — a trait that makes it an attractive proposition from a portfolio diversification standpoint — the 30-day correlation with Nasdaq 100 futures has been consistently positive since February. last year. A reading of 0.5 — which is close now — means they’re mostly moving in the same direction these days.

You Can Now Buy A Home Without Selling Any Of Your Bitcoin With Crypto Mortgages. Here Are The Pros & Cons

While investors say the correlation with tech stocks makes sense — both types of investments can be seen as attractive to the same set of tech-savvy investors — small-cap stocks and the S&P 500 have also shown strong correlations. That could be the reason. As Bitcoin becomes more integrated with global financial markets, it must be more responsive to changing risk appetites that drive global sentiment.

Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

Meanwhile, El Salvador’s President Nayib Bukele said the country had bought the “decline” in bitcoin, and added 150 tokens to bring its total holdings up to 700 – about the United States. 32 million dollars at current prices. The nation recently accepted bitcoin as legal tender in a controversial move that faced technical glitches and protests.

The enthusiastic use of Bitcoin in El Salvador is one of the reasons why the price has risen and recently reached a four-month high. However, the market has a long way to go before recovering from the May sales.

Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

Terra Continues To “bottom Fish” An Additional Five,000 Bitcoins, Bringing The Complete Worth Of Btc It Owns To More Than $ One.six Billion

“On a day like today, when you have a perfect storm, I think people are asking, ‘What will sell me the fastest? What can I have access to at 2 in the morning?'” said Scott Bauer, CEO of Prosper Trading Academy. “If they’re holding crypto, which is obviously a 24-hour market, that’s probably the first place they’ll look,” he said, adding that news from China has been negative for the crypto space.

Get Alerts: WhatsApp: Click Here | Telegram: Click here | Twitter: @Global_Upfront | Facebook: | Share stories with us: SMS: +2347017610644 | Email: [email protected] | To download the video: Click here

Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

This website uses cookies to improve user experience. Let’s hope it’s good…or log out! Read More Accept Bitcoin has risen above $10,500 in the past few days. This is after peaking at over $11k over the weekend. However, strong resistance has prevented it from going above $11,000. On Sunday, Bitcoin broke the $11,000 level, but the gains were short-lived.

Bitcoin Price Falls, Mining Rigs Sell

At the end of the day, Bitcoin fell as low as $10,400. At press time, the asset appears to have settled in a tight price range of $10,350 and $10,600.

Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

At the start of the week, Bitcoin’s movement was largely sideways. Like most cryptocurrencies, Bitcoin saw a marginal decline of less than 1%. The dramatic drop in trading volume is noteworthy. Is it a sign of a dying momentum?

At press time, Bitcoin trading volume has dropped to $15 billion. That’s half of his bullish momentum peaked a few weeks ago. Bitcoin’s dominance seems to have dropped to 65% at the start of the week.

Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

It’s Not A Bitcoin Etf. But This Crypto Fund Has The Sec’s Blessing.

This change follows the excellent performance of altcoins last week, a sign that the previous season is returning. The Bills seem to have pulled out after a long battle with the Bears last week. It may be time to consolidate this before taking the next step. While prices may appear stable, the absence of a bull could lead to an increase in bears, giving the future a much-needed look.

Altcoins also share the same fate as Bitcoin. Most people have reported minor losses in the last 24 hours. This ranges from 0.50% to 4%. They also reported a drop in trading volume in the last 24 hours.

Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

Ethereum, which has consistently seen a daily trading volume of more than $10 billion, was down to less than $6.5 billion at press time. XRP, on the other hand, fell below $1 billion.

Cryptocurrency Statistics 2022: How Many People Use Crypto?

In the next few hours, we can start to see more significant movements in the market. But unlike in recent months, the positive movement may be led by altcoins. Last week’s spike was fueled by altcoins led by Binance Coin, Litecoin, Ethereum, XRP and Tron. In the new week, we could see them playing a big role in pushing the market higher.

Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

Disclaimer: None of the information you read should be considered investment advice. Cryptocurrencies are very volatile, do your own research before making investment decisions.

© doo 2017 – 2022 | All rights reserved. UK registered company no. 12068490 | 159-160 City Road, Kemp House, London, EC1V 2NX, UK.

Btc Drops To Near $20,700 After Fed Chair Powell’s Speech

Top Ten Companies With Most Bitcoin Hold Over 204,000 In Total The Asian Banker

Fed ex drops, fed ex drops near me, us fed speech, fed speech today live, fed chair, fed speech schedule, fed speech calendar, fed chairman speech, fed speech live, fed speech today, fed chairman speech today, fed speech

About djodi

Check Also

Finnish Pm Sanna Marin’s Under Fire After Wild Party Video Gets Leaked

Finnish Pm Sanna Marin’s Under Fire After Wild Party Video Gets Leaked – Can a …

Leave a Reply

Your email address will not be published.