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NewsBTC 2022-08-25 07:40:27

Bitcoin Price Watch: BTC Facing Renewed Challenge To Keep Price Above $20,000

Bitcoin price recently completed a two-month surge that resulted in a price increase to over $25,000; consequently, investors are now concentrating on the cryptocurrency’s next target price. Bitcoin price spikes to over $25,000 following a two-month surge Bitcoin now looking bearish; struggling to keep its price above $20,000 BTC down by 0.12%; currently trading at $21,498.36 Bitcoin (BTC), the leading cryptocurrency, is now displaying negative sentiment after first exhibiting bullish indicators. The flagship coin is now fighting once more to keep its price above $20,000. By the end of September 2022, the cryptocurrency community on CoinMarketCap forecasts that Bitcoin price will climb by 36.75% from its current value, trading at an average price of $29,346. Roughly 20,683 community members cast their votes to determine the pricing target. BTC Unable To Surpass $25,000 Due To Macroeconomic Conditions The price of bitcoin fluctuates by about $21,000. Even though Bitcoin’s recent rally tried to lift the asset out of a prolonged bear market, the community’s forecast is still optimistic. The crypto market reacted poorly to the Federal Reserve’s decision to raise interest rates amid the rising inflation, but BTC’s failure to surpass $25,000 has emerged as macroeconomic concerns continue to take center stage. At the time of publication, Bitcoin was significantly down 10% over the previous week. Bitcoin ...

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