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NewsBTC 2022-09-27 22:22:54

BTC Reclaims Its 20K Spot After A Couple Of Bloody Weeks

After plummeting to significant lows in July, bitcoin has been locked in a sideways trading action angling towards higher prices. Still, investors are anxious to see what’s going to happen next. Last week, the Federal Reserve’s decision to squeeze more US Dollars out of circulation with another interest rate hike sent BTC tumbling. After finding support at the $18,000 psychological level, BTC surged 7% on the 27th of September in a tremendous display of volatility. As a result, the number one digital asset recovered to trading above $20,000 for the first time in over a week. Related Reading: Bitcoin 90-Day CDD Hits All-Time Low, What Does It Say About Market? Differed Opinions on BTC’s Volatile Tuesday Run TradingView tracked the movement of BTC as it closed in the green by 7% on the 26th of September. Data from Bitstamp reported a price peak at $20,344 before it eventually settled at $20,200. As expected, the move seized the attention of many traders in the crypto bubble. However, people gave bipolar reactions to the news. Other comments warned investors to avoid making hasty, late entries influenced by the fear of missing out. Analysis from a user with a strong crypto presence on Twitter dismissed any hope of a market reversal just yet. Capo of Crypto believes there would be lower lows below $19,000 before we see any relief from the crypto winter. Will The Bulls Run The Bears Out Of The Market This Month? B...

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