Crypto

Bitcoin falls: as if 2021 never happened

Not only did economic fears over the Delta option shake global stock markets, but the poor performance of major crypto assets led to further significant drops in cryptocurrency prices. This tuesday Bitcoin loses 5%

In France early July 20, it fell below $ 30,000 and even dropped to $ 29,330, according to Coindesk. As a reminder, Bitcoin hit $ 58,780 on May 9th. In April, his new record was over $ 63,000.

Crazy Rise Bitcoin in 2021 is now completely erased as the level reached on January 1 was the same as today. By this time, Bitcoin was already ending the December month at a steady pace, before moving around the $ 30,000- $ 33,000 levels in January.

Six months later, the $ 30,000 mark turned into technical and psychological support. the path to even stronger correction digital token. For a strategist in Stock Exchange Zone Nicholas Sharon, Bitcoin would even end up in a bear market, in other words, a market that is experiencing a prolonged fall in prices.

$ 39,000 lost

Bitcoin lost over $ 39,000 and 49% in three months. The trend is for the market as a whole, and the Ethereum and Binance currencies continue to decline as well. On Tuesday, ETH lost more than 5.6%, BNB fell 10.6%.

Vijay Ayyar, head of the Asia-Pacific region for cryptocurrency exchange Luno (based in Singapore), commented on Bloomberg: “We’re going to be between $ 20,000 and $ 40,000 by the end of the year.” Some experts expect a cycle change in the fourth trimester.

“We expect three volatile months, both up and down […] but i still think we will see Bitcoin at $ 100,000 this year, probably in the fourth quarter “, This was announced by Toroso Investments’ investment director Michael Venuto in an interview with Investing.com.

One thing’s for sure: the economic context isn’t everything. With a large proportion of individual investors, Bitcoin is also experiencing a certain summer truce, marked by growing interest in buying bitcoins, as in some countries, individual spending resumes with the opening of airports, shops, bars and restaurants.


Back to top button