Clicky

  • About
  • Coincu
  • Hot topics
  • Random
Friday, September 22, 2023
CoinCu News
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
  • Reviews
    • Exchange Reviews
    • DeFi Reviews
    • GameFi Reviews
    • Casino Reviews
    • Others Reviews
  • Recommended
    • Best Presale Cryptocurrencies
    • Best Bitcoin Casinos
    • Best Bitcoin Gambling Sites
    • Best Web3 Cryptocurrencies
  • Video
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
  • Home
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
  • Reviews
    • Exchange Reviews
    • DeFi Reviews
    • GameFi Reviews
    • Casino Reviews
    • Others Reviews
  • Recommended
    • Best Presale Cryptocurrencies
    • Best Bitcoin Casinos
    • Best Bitcoin Gambling Sites
    • Best Web3 Cryptocurrencies
  • Video
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
No Result
View All Result
CoinCu News
No Result
View All Result
Home Bitcoin

Organizations selling to clear the taxes put bitcoin price under pressure as 2021 ends

Annie by Annie
2 years ago
in Bitcoin
Reading Time: 4 mins read
372
90
SHARES
3k
VIEWS
Share on Twitter

ETH/BTC Trading Pair Rate Falls To 14-month Low

BNB Experienced Sharp Declines, Facing The $210 Support Level

2021 was a boom year for the crypto market, although the bulls got stronger to push the Bitcoin price below $ 48,000 to the chagrin of bullish investors, demanding that the “loudness” of the moon reach $ 100,000 by the end of the year.

Data from TradingView shows that Bitcoin took investors on a rollercoaster ride for the past 24 hours, dipping below $ 46,000, and then quickly bouncing back to $ 47,050 today.

Loss in tax collection for institutional investors weighs heavily on Bitcoin price at the end of 2021

BTC / USDT 4 hour chart | Source: TradingView

Here’s what some market analysts are saying about Bitcoin’s last minute price action in 2021, and what is likely to happen in 2022 if the mass adoption of blockchain technology and cryptocurrencies continues.

The key resistance becomes support

Rekt Capital, a market analyst with over 270 Twitter followers, has Upload monthly outline chart to highlight how bitcoin turned key resistance into support.

The loss of tax revenue for institutional investors weighs heavily on the price of Bitcoin towards the end of 2021

BTC / USD Monthly Frame Price Chart | Source: Twitter

According to Rekt Capital, “Bitcoin turned resistance levels to new support in February, August and September this month” and is looking for a closing price above the green zone shown in the graph above to confirm that this is a new level of support is.

Regarding the levels to watch in the coming days, Rekt is Capital monitor $ 48,500 as a barometer of the overall strength of Bitcoin.

“If it can reclaim $ 48,500 in support by the end of the week, Bitcoin could retrace the $ 52,000 resistance again.”

$ 52,000 is a major short-term drag

David Lifchitz, ExoAlpha’s managing partner and chief investment officer, explains why Bitcoin has weakened in the last few days of the year, accusing institutional investors of apparently “selling to make money”. +3)… closes on December 31 ”.

Much of the volatility last week was due to weak market liquidity, according to Lifchitz. He suggested that it would come as no surprise “to see Bitcoin rally to $ 50,000 … as well as drop to $ 46,000” in the next few days.

If the bears break below the $ 46,000 support and complete a large head and shoulders pattern, Lifchitz suggested that “the next stop could be at $ 30,000,” but “we are still.” far from the level. “That and the technical models clearly show that it is not possible.”

Lifchitz, on the flip side, cited $ 52,000 as “the main hurdle that Bitcoin failed twice”.

“If this resistance ($ 52,000) reverses, the next leg will stop at $ 60,000 and then at $ 70,000 (new all-time high (ATH)).”

The final warning was from Lifchitz regarding the distribution of 146,000 BTC in the first half of 2022 from Mt. Gox has the “potential to reshuffle the bitcoin trend”.

No reason to panic

Reassurances for traders concerned about a dip below $ 46,000 were recently delivered by analyst Devchart. He was post The graph below shows that Bitcoin was trading within a well-defined range for most of December.

Loss in tax collection for institutional investors weighs heavily on Bitcoin price at the end of 2021

BTC / USDT 4 hour chart | Source: Twitter

“If you zoom out, you’ll find that as of December 3rd, we were just back at the bottom of the same range. Don’t panic until we break out of this area, ”explains Devchart.

Analyst Michael van de Poppe show a similar outlook suggesting that the market may weaken in the short term before rising.

“The market is pretty boring these days. Just a bottoming out process for Bitcoin. We’re retesting $ 46,000 as support, bounced back, but could drop to lower levels before we bounce back a bit. ”

The total capitalization of the crypto market is currently $ 2.201 trillion and the dominance of Bitcoin is 40.3%.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

Top Bitcoin Casinos Sites In 2023

Top Bitcoin Gambling Sites In 2023

Market Overview (July 17th-23rd): Discover the Latest Crypto Market Buzz

Tags: #Bitcoin#TaxesclearendsOrganizationspressurepriceputselling
Previous Post

Liquidity solutions for the Polkadot ecosystem

Next Post

KOL Capo calls for an altcoin season and says the BTC bull run is still intact

Other Posts

ETH/BTC Trading Pair Rate Falls To 14-month Low
Ethereum

ETH/BTC Trading Pair Rate Falls To 14-month Low

September 21, 2023
Mt-Gox-Postpones-Repayment-Deadline-To-October-2024
Bitcoin

Mt. Gox Postpones Repayment Deadline To October 2024

September 21, 2023
Bitcoin-Holds-The-27000-dollar-Mark-Ahead-of-Important-FOMC-Meeting
Analysis

Bitcoin Holds The $27,000 Mark Ahead of Important FOMC Meeting

September 21, 2023
69.2% Long-Term Bitcoin Holders Are Profitable
Bitcoin

69.2% Long-Term Bitcoin Holders Over 155 Days Are Profitable

September 18, 2023
Bitcoin Is Trading Above $26,500 But The Market Is Still Cautious As Fear
Bitcoin

Bitcoin Is Trading Above $26,500 But The Market Is Still Cautious As Fear

September 16, 2023
What-Resistance-Level-Does-Bitcoin-Need-to-Overcome-to-Hit-$30000
Analysis

What Resistance Level Does Bitcoin Need to Overcome to Hit $30,000?

September 15, 2023
Next Post
KOL Capo calls for an altcoin season and says the BTC bull run is still intact

KOL Capo calls for an altcoin season and says the BTC bull run is still intact

Leave Comment
  • Immutable-X-Suddenly-Increases-More-Than-35-percent-As-Whales-Show-Signs-Of-Accumulation

    Immutable X Suddenly Increases More Than 35% As Whales Show Signs Of Accumulation

    124 shares
    Share 50 Tweet 31
  • Coinbase Wallet Users: Beware of Scammers Exploiting Messaging Protocols for Phishing!

    142 shares
    Share 57 Tweet 36
  • Layer 1 Vara Network Will Be Supported By Coinbase

    112 shares
    Share 45 Tweet 28
  • Singapore Banks Crack Down On Money Laundering: $1.8 Billion Assets Seized

    93 shares
    Share 37 Tweet 23
  • Ethereum Network Gas Fee Now Soars To Over 310 Gwei

    93 shares
    Share 37 Tweet 23
Binance's Trading Volume Faces Challenge Due To Zero-Fee Promotion Halt

Binance’s Trading Volume Faces Challenge Due To Zero-Fee Promotion Halt

September 22, 2023
Justin Sun's Huobi Bold Transformation: HTX Emerges As A Game-Changer In Crypto

Justin Sun’s Huobi Bold Transformation: HTX Emerges As A Game-Changer In Crypto

September 22, 2023
Bankman-Fried's Release Was Denied: Legal Showdown Looms In High-Profile Trial

Bankman-Fried’s Release Was Denied: Legal Showdown Looms In High-Profile Trial

September 22, 2023
Binance And CEO Changpeng Zhao Officially File To Dismiss SEC Lawsuit

Binance And CEO Changpeng Zhao Officially File To Dismiss SEC Lawsuit

September 22, 2023
Linear Finance Reported The Attack Causes LUSD Volume Spike Up 7761%

Linear Finance Reported The Attack Causes LUSD Volume Spike Up 7761%

September 21, 2023
Celsius Now Reaches Agreement With Earn Ad Hoc Group And Simon Dixon

Celsius Now Reaches Agreement With Earn Ad Hoc Group And Simon Dixon

September 21, 2023
ETH/BTC Trading Pair Rate Falls To 14-month Low

ETH/BTC Trading Pair Rate Falls To 14-month Low

September 21, 2023
FTX Proof Of Claim Deadline: Secure Your Funds Before September 29th

FTX Proof Of Claim Deadline: Secure Your Funds Before September 29th

September 21, 2023
DWF Labs LEVER Deposits: 1.8 Billion Tokens To Binance As Price Surges By 12%

DWF Labs LEVER Deposits: 1.8 Billion Tokens To Binance As Price Surges By 12%

September 21, 2023
CBDC Trojan Horse: US Congressman's Warning On Global Elite Control

CBDC Trojan Horse: US Congressman’s Warning On Global Elite Control

September 21, 2023
  • Live Prices
  • Binance
  • NFT
  • Solana
  • Metaverse
  • Polygon
  • Coinbase
  • Trending

© 2021 COINCU Financial Group Inc. Address: Road Town, Tortola, British Virgin Islands. Email us: [email protected].

No Result
View All Result
  • Coincu
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • Metaverse News
    • NFTs News
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
  • Reviews
    • Exchange Reviews
    • DeFi Reviews
    • GameFi Reviews
    • Casino Reviews
    • Others Reviews
  • Recommended
    • Best Presale Cryptocurrencies
    • Best Bitcoin Casinos
    • Best Bitcoin Gambling Sites
    • Best Web3 Cryptocurrencies
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
  • Video

© 2021 COINCU Financial Group Inc. Address: Road Town, Tortola, British Virgin Islands. Email us: [email protected].

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In