Fidelity exec says Bitcoin is ‘technically oversold,’ making $40K a ‘pivotal support’
3 key Bitcoin price indicators suggest that the $40,000 level will hold as support throughout 2022.
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3 key Bitcoin price indicators suggest that the $40,000 level will hold as support throughout 2022.
Panic sellers, hold your horses because dips are still for buying, according to data from Santiment behavior analysis.
Prices of $42,000 per Bitcoin were more than enough ammunition for well-known Bitcoin bears to reload.
“I think there’s a reasonable chance of this being a $250 trillion asset class, which is 100x from here,” said Raoul Pal.
BTC price retests the recent lows at $46,000 as institutions appear to be “selling for tax reasons” while $52,000 remains a major hurdle in the path higher.
Data from Cointelegraph Markets Pro shows FXS, SXP and GNO posting double-digit gains as BTC bulls look to recover support at $47,500.
The two cryptocurrencies look poised to end 2021 in double-digit percentage losses against Bitcoin.
The company's holdings are valued at roughly $5.9 billion, representing more than $2.1 billion in gains since its initial purchase in August 2020.
438 Bitcoin obituaries have been counted since 2010, and the year 2017 still remains to account for most “deaths.”
A double top formation preceded Bitcoin's plunge below $48,000 on Dec. 28 with some analysts suggesting it could dip to $44,000 before resuming its uptrend.