Cryptocurrency
Has Bitcoin bottomed at 22k?
By Dr Wealth  •  July 29, 2022
It has been volatile time for bitcoin ever since its peak of $69k back in November last year. At present, we are trading at about a third of its value with bitcoin floating within the $22k to $24k range. With bitcoin having found support at the $20k levels, we are now generally seeing some strength return to the global crypto market cap. While it may seem apparent that some form of bottoming could be forming due to “seller exhaustion”, I believe there may still be catalyst out there which may add further selling pressure to the crypto market. In this article, we will be exploring both the bull and bear cases for Bitcoin as we continue on into the second half of 2022. Why is $20,000 such an important “zone” for Bitcoin? I cannot stress the importance of $20,000 as a crucial physiological price point for Bitcoin as it is where traders have literally made it or ‘broke-it’ in the last 4 years....
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By Dr Wealth
Dr Wealth provides trusted financial education to individuals. We teach researched and actionable investment methods so that our graduates are successful in their investment journey and achieve market-beating returns.
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