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Bitcoin (BTC)
Do you believe that the new support zone of BTC is $10k?
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[QUOTE="Suba, post: 253096, member: 3658"] In my opinion, it is impossible for Bitcoin price to reach the support zone, $10k. Although on Wednesday June 15, 2022 the Fed has raised interest rates aggressively by 75 basis points, and maybe tomorrow or the day after tomorrow will raise interest rates again, also according to news I heard several central banks of Hungary, Britain, Indonesia and Switzerland will also raise interest rates to contain inflation. Of course, the increase in interest rates in several countries will make the Bitcoin price even more sluggish. Personally I have made several analyzes, first if the price of Bitcoin drops below $20k, there will be an ultra-extreme panic in the crypto market, you need to know that Bitcoin is currently dominated by big investors (whales). there will be substantial buying pressure, because in the long run the value of Bitcoin will remain intact. Second, technically if the price of Btc is below $20 it will continue to drop to $15k per BTC. Historically, the bearish trend that occurred in 2018 fell drastically to close to $3000 per Btc or decreased by 80%. So in the current cycle, counting from ATH Nov 2021 then the lowest Btc price is $13,700 [/QUOTE]
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Do you believe that the new support zone of BTC is $10k?
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