Bitcoin fell below $18,000 after the US Federal Reserve raised its key rate by 50 basis points on December 14 to 4.25-4.5% per annum. This is the highest key rate since 2007. By the weekend, bitcoin was trading around $17,000, periodically dropping below this mark. The price oscillates in the large falling wedge pattern.
Support levels are at $16,500, $16,000, $15,500. Currently, a drop down to the $15K support area seems possible.
#Bitcoin needs to reclaim $16.9K if it wants anything.
— Michaël van de Poppe (@CryptoMichNL) December 17, 2022
Otherwise looking at tests at $16.2K for a play and, most likely, a sweep of the low at $15.6K. pic.twitter.com/qtinL4l2fQ
Approximately $2 trillion in value was wiped from the combined crypto market in just 12 months.
Now, amid a fresh panic caused by rumors about Binance's legal problems, exacerbates the bear market.
Apparently the consensus is that Tether, Binance, DCG are all going to fall. Potentially even Michael Saylor.
— Michaël van de Poppe (@CryptoMichNL) December 16, 2022
Clear, got it.
The opinion of crypto investors is divided. Someone expects the bear market to end soon and move to growth. Others do not expect major breakthroughs from bitcoin in the coming years.
#Bitcoin #BTC Signs of the Times
— Titan of Crypto (@Washigorira) December 18, 2022
According to this indicator, #Bitcoin is already in the Accumulation period & Bear Market is coming to an end. pic.twitter.com/KYdvR0GzQu
However, most crypto investors tend to think about a long crypto winter that is unlikely to end anytime soon.
Do you think #Bitcoin will hit $100k before 2025?
— Crypto Rover (@rovercrc) November 16, 2022
NO YES
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