Bitcoin Financial News

Bitcoin (BTC) attempted to reclaim $20,000 as support on June 19 as bulls faced a $7,000 weekly red candle.

The crypto-markets continue to slide lower than usual as Bitcoin [BTC] tumbled to a new low on 19 June. Moreover, the king coin breached a prior cycle’s all-time high for the first time in its history after dropping below $18k. This has piled on more pressure on investors who are struggling in these extreme market conditions.

El Salvador introduced BTC as legal tender on September 7, 2021, when its market price was around $50,000. Ever since, Bukele’s government made significant returns on their initial BTC investments as Bitcoin rallied to its all-time high of $69,000, which was redirected to the country’s various infrastructure development initiatives.

crypto world over the past few weeks is enough to make even the most enthusiastic Web 3 supporter take a step back and assess his position. With Bitcoin diving to an 18-month-low and showing no signs of stopping anytime soon, crypto lenders such as Celsius halting transactions to curb the volatility amongst crypto assets and exchanges like Coinbase firing staff to keep itself steady, the outlook for the entire industry seems to have changed drastically from just a few months ago when products and technologies like NFTs and metaverse was on everybody’s minds. Added to these are global headwinds that have created the perfect storm that we’re seeing the crypto industry go through currently. Indeed, with 40-year-high inflation in the US pushing the Fed to raise interest rates, daily items getting costlier thanks to high oil prices, the uncertainty over the war in Ukraine and the threat of Covid-19 and possibly monkeypox lurking just around the corner, things have decidedly taken a turn for the worse wherein investors have started dumping riskier assets such as equities and crypto assets.

There was no weekend respite for cryptocurrency markets that continued to slide, with the largest digital currency bitcoin (BTC) breaking $18,000 and ethereum (ETH) plummeting below $900.

Bitcoin [BTC], the king coin has gone below the $20,000 level, losing its much-respected price milestone. The United States Federal Reserve’s comments on the inflation outlook saw Bitcoin witnessing the brunt of a sell-off. At press time, the world’s flagship crypto was changing hands at $19,227 on CoinMarketCap.

The crypto bloodbath has wiped away billions of dollars from the global crypto market in the past month. The failure of crypto institutions has led to liquidity across major cryptocurrencies leading to price drops. This is evidently one of the more uncertain times in crypto history.

Bitcoin plunged through several closely watched price levels to the lowest since late 2020 as evidence of deepening stress within the crypto industry keeps piling up against a backdrop of monetary tightening.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

The crypto bears have been in full swing recently without any respite. All major cryptocurrencies are resting in red with the stablecoin massacre now raining over MIM [Magic Internet Money]. UST has vanished, USDD and USDT are struggling underwater. This has increased a lot of pressure on the crypto market.

Like clockwork, the onset of a crypto bear market has brought out the “Bitcoin is dead” crowd who gleefully proclaim the end of the largest cryptocurrency by market capitalization.

With the recent performance of Bitcoin [BTC], it seems that the king coin does not have much to give to the advancements that are expected in the crypto space and Web3. However, it does hold the title of being a “store of value” asset as well as an inflation hedge, but lately, the token has been losing that as well.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

The bright orange Bitcoin (BTC) logo, for over a decade, has become synonymous with financial freedom amid modern-day recession and stringent governmental oversight. However, unlike the mysteries tied to Bitcoin’s origin, the development of the Bitcoin ‘₿’ logo is fairly documented in the depths of the internet. 

Bitcoin dropped below $20,000 on Saturday to its lowest level in 18 months, extending its slide as investors pull back from riskier assets amid rising interest rates.

Bitcoin (BTC), the most popular cryptocurrency and cryptoasset, dropped below USD 20,000 for the first time since December 2020, while the second-largest cryptoasset, ethereum (ETH), broke the USD 1,000 level for the first time since January 2021. (This is a developing story and is being updated.)

Bitcoin fell below $20,000 for the first time since December 2020 as evidence of deepening stress within the crypto industry keeps piling up against a backdrop of monetary tightening.

Bitcoin (BTC) achieved a bear market first on June 18 as BTC price action gave up $20,000 support.

The current cryptocurrency market remains in a state of chaos. The liquidations are over $200 million on a daily scale again as Bitcoin headed towards the $20k mark. Ethereum, the second-largest coin suffered the same fate. But it looks like investors are buying the dip.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the opinion of the writer.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.