Crypto

Bitcoin Remains Under Pressure After Quiet Weekend And Key Thresholds Update From Investing.com

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Investing.com – It’s been a pretty quiet weekend for the cryptocurrency as it didn’t hit new lows from its $ 31,055 low on Friday morning.

The pair rallied to a high of around $ 32,400 on Saturday night, but then quickly dipped below $ 32,000 and is approaching $ 31,600 on Monday morning with no short-term trend.

According to the well-known investor, it is “very dangerous” to hold BTC today.

The latest bitcoin news doesn’t offer anything specific. However, we note a comment by renowned fund manager David Tice on CNBC yesterday to warn against bitcoin and other assets while he recommended buying at the start of the year, an opinion he canceled shortly after the March peak.

“We had a position in bitcoin when it was $ 10,000,” Tice said. “However, when it came to $ 60,000, we felt it was a little late … Central banks have been making a lot of noise lately, Bank for International Settlements [et] The Bank of England has made some very negative statements. “I think it is very dangerous to stay in the cryptocurrency market today,” he said.

Bitcoin is close to serious long-term support

Going back to the bitcoin chart, the pullback on the daily chart shows that the $ 29,000-30,000 area is the main support area that has been in effect since the beginning of the year.

Below that zone, there is no support on the chart before the zone around $ 23,500 and then the psychological threshold of $ 20,000.

On the other hand, in order for Bitcoin’s daily profile to really improve and to consider buying in the medium term, a yield above $ 40- $ 41,000 is needed.

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