Bitcoin Price Will Lead To Panic Buying and Selling as BTC Price Revisits $15,588 Low – November 20, 2022
The existence of Doji candlesticks has allowed the price of Bitcoin (BTC) to hold steady above the $16,000 level as BTC price revisits $15,588 low. These tiny candlesticks represent how buyers and sellers act concerning the market’s direction. Bitcoin is currently declining as it gets closer to its current support.
Bitcoin Price Statistics Data:
•Bitcoin price now – $15,956.49
•Bitcoin market cap – $306,656,556,889
•Bitcoin circulating supply – 19,213,025.00 BTC
•Bitcoin total supply – $335,987,082,349
•Bitcoin Coinmarketcap ranking – # 1
Resistance Levels: $50,000, $55, 000, $60,000
Support Levels: $25,000, $20,000, $15,000
Bitcoin’s price has also been trapped between $16,000 and $17,200 levels as it lingers above the $16,000 support. The BTC price is falling as it gets closer to the current support after circling above the $16,000 support. Nevertheless, Bitcoin will drop to a low of $15,588 if the bears break through the current support. When price returns to the present support, there are two probabilities. First off, where the current support holds, the price of BTC will increase. The breakout milestone at $17,200 will be reached with positive momentum. Once the $17,200 resistance is broken, a rally to the $20,000 high is likely. On the other hand, if Bitcoin falls and the current support is broken, the biggest cryptocurrency will fall by an additional $14,106.32. There will be chaos among buyers and sellers as a result.
The FTX Funds Are in Motion As a Thief Converts Thousands of ETH Into Bitcoin
Reports that the money taken from FTX was sent to the Bahamas’ Securities Commission are untrue, claims Chainalysis. Chainalysis, a company that does blockchain analyses, claims that money taken from the FTX cryptocurrency exchange is currently being changed from ETH into Bitcoin. To encourage exchanges to freeze these coins in case the criminal tries to exchange them for fiat or further obscure the assets, Chainalysis encouraged exchanges to do so on Twitter on November 20.
Amid the contentious demise and bankruptcy of FTX, word spread that 228,523 ETH had been stolen by an unidentified perpetrator. The owner of these coins, which at the time of publication were valued a staggering $268,057,479, is currently one of the biggest ETH holders in the entire globe. Approximately 31,000 ETH have been converted into wrapped BTC as of the time of writing. The total amount received by the burglar after sending the coins cross-chain to a Bitcoin main net wallet using the Ren Protocol was 2444.55 BTC.
Meanwhile, as the price of Bitcoin breaches the $16,000 support, selling pressure has resumed. The BTC price is falling to test the level from November 9 once more. If this support is breached and the price is closed below it, Bitcoin may fall as low as $14,106. On the other side, if buyers drive the price above $17,200, it will signal significant demand at lower levels.
However, the aforementioned conditions will lead to panic buying and selling as BTC price revisits $15,588 low. This is precisely one of the features of Dash 2 Trade, a coin. The collapse of FTX brings about a need for a cutting-edge trading intelligence platform, and that exactly is what Dash 2 Trade offers. It is a platform that can adequately detect impending adverse issues similar to what happened to FTX, thus enabling investors and traders to pinpoint safe opportunities for good profits. The D2T token presale is ongoing and it has raised $6.5 million so far.
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