Bitcoin brushes $15,649
The $15,649 price recorded on Monday for BTC represents the lowest level since November 2020, according to data from CoinGecko. The queen of cryptocurrencies however moved higher on Tuesday and traded above $16,000 at the time of writing.
Its price remains far from the $21,000 it hit in early November, days before FTX’s financial problems began.
CZ: Did he intentionally crash FTX to boost Trust Wallet?
Bitcoin dropped to its lowest price since November 2020: $15,649.
Source: https://t.co/NOzW0AG6Mn#Bitcoin #BTC #bitcoinprice #cryptocrash #bitcoincrash #cryptocurrency #cryptomarket #cryptoworld #blockchain #Challenge #bill #FTX #FTXCRASH #FTX bankruptcy #fear and greed #FUD
—Watchlists.com (@WatchlistsC) November 22, 2022
BTC’s current difficulties actually find their origin in the new scandal that has troubled the crypto industry, in this case the bankruptcy of the second largest exchange in the market after Binance.
Many companies are also suffering from platform difficulties, especially SALT, Liquid Global or BlockFi which have all suspended withdrawals. And this threatens prices to further fall in the short term.
This situation led many world leaders, who met last week in Indonesia for the G20 summit, to press for the regulation of cryptocurrencies. The increased regulatory pressure that is likely to result may also play a role in BTC’s decline in recent hours.
However, many investors still believe in the success of cryptocurrencies and want to see in the current situation the bad effects associated with the use of traditional financial methods in the world of crypto.
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New trading range for BTC: $15,800 – $17,000
Last week we observed resistance at $17,000. $15,800 is also a key support, representing the lowest price BTC has marked since the fall in FTX. Since BTC does not trade in these ranges most of the time, the new trading range is $15,800 – $17,000.
Right now it’s a killing for #BTC. The surrender was confirmed gradually. Hoping that the oil drop will help it to recover because slowly 15-16k seems to be confirmed. 14k would be a nightmare…#Bitcoin #BitcoinCrash pic.twitter.com/zv2BQ8n2Gj
– Official Czero (@CryptoZeroActu) November 21, 2022
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