Will Bitcoin fall below $10,000 ?

Crypto has been under the radar for the past couple of months. Currently, there are many questions being raised about the prospects of cryptocurrency. From reaching new highs back in November last year to hitting the bottom in 2022 wiping billions of dollar from the market.

Bitcoin which was expected to hit $100,000 in 20222 is trading below $20,000 now. BTC failed to rise due to extremely volatile market fluctuations.

People who were invested in Cryptos for long time are not much worried about this dip. But one thing to notice here which previous declines didn’t involve is the drop in total market cap by large margin.

People went crazy on social media and many started sharing that – this crash is just the beginning. “Dont get excited about BTC crossing $20k. This is just another bull trap”.

Fall of Bitcoin’s Price :

Cryptos price has been declining for the past couple of months. Bitcoin’s present price has created a sight of fear among the investors, who are planning to sell off their investments.

Investors continue to stay on the edge due to all the negative news based on crypto. The inflation and crypto regulation bills pushed crypto further down on.The price of Bitcoin can still collapse at faster pace if BTC fails to achieve its 200 day moving average.

The bear market also had impact on few crypto organisations like Celsius, failed as a result of the global crypto market cap dropping below one trillion USD.

Also there is a ongoing news that FTX is going to buy the Crypto lending platform, BlockFi.

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