Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject
If you’re a Bitcoin holder, I’m guessing you’re not really happy. After all, when you bought into the world’s largest cryptocurrency, the expectation was it would soon hit $100k on the charts. At least, that’s what some “analysts” said.
However, that hasn’t happened. In fact, one could argue that the crypto has moved in the opposite direction altogether. While BTC peaked at $69,000 on the charts, the cryptocurrency is now trading well under $20,000.
Now, can BTC resurrect itself and appreciate again? Sure, it can. When will that be though? Well, that’s a question with no clear answers at this point.
The cryptocurrency market is evolving quickly, and some specialists are beginning to question whether it is still worthwhile to invest in Bitcoin. On 15 June 2022, for instance, Bitcoin fell below $20,000 for the first time since December 2020.
At the time of writing, BTC was priced at $19,324. The 8-day exponential and 21-day simple moving averages seemed to be within the crypto’s coiling range on the chart too. The sideways price movement will soon be resolved by a rapid move, according to the compression between the two indicators.
This week, there has been a noticeable increase in volume too. The highest increase in transactions over the last five years was reported by Binance. In terms of foreign currency inflation, the upswing occurs at a fascinating point in time in the macroeconomic context. The British pound and the Japanese yen both saw sharp devaluations in September. In an effort to make up for their losses and obtain new yields, holders of the
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