If Bitcoin Still Struggles Below $15,000, The Whole Market Will Flooded With “Blood”

Bitcoin has not shown any recovery moves for the past several days. The cryptocurrency is still being squeezed by the bears, while trading volumes are unusually low.

The past 2 weeks have been terrifying days for the Crypto market, seeing the collapse of the third largest cryptocurrency exchange FTX. The event shook the crypto industry, prompting regulators in the affected countries to launch multiple investigations to shed light on why FTX collapsed so quickly. so.

After the FTX crash, BTC price reacted quickly from over $21,000 to a two-year low of under $16,000.

The rollercoaster move continued over the next few days, with BTC pumping above $18,000 before falling to $17,000. And at the time of writing, BTC price continues to plunge below the 15k area.

The whole Crypto market is in the red. Most large cap altcoins are down 5 > 10% in the last 24 hours.

The deep bear market occurred amid the low volume of BTC trading in November. A prominent crypto analyst recently warned that Bitcoin could plummet below $10,000 if the current bear market mimics previous bear cycles.

“Bitcoin could drop to as low as $9,500 if it mimics the 2014-2015 bear market or $11,000 if events from 2017-2018 play out again,” analyst DonAlt tweeted.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Chubbi

Coincu News