The Bears Have Broken Through the Support Level – Bitcoin Rate Fell Below $ 30K
On Tuesday, June 22, the Bitcoin exchange rate fell below $ 30 thousand, according to the data from crypto exchanges. There was a similar collapse five months ago.
As Bloomberg analysts note, the $ 30 thousand level is especially important for short-term forecasts for Bitcoin. It looks like bears dominate the market.
According to Anthony Trenchev, co-founder of the London-based crypto-credit company Nexo, later the bears will try to break through the support levels expected at $25,000 and $20,000.
Other experts predict the imminent return of the Bitcoin rate to the level of $40,000.
The previous sharp decline in the Bitcoin exchange rate followed immediately after the announcement of the President of the Federal Reserve Bank of the United States in St. Louis, James Bullard, to raise the interest rate by the end of 2022. As the dollar strengthened, sellers overwhelmed the Bitcoin bulls. This triggered a drop in the price of Bitcoin to a daily low of $ 35,129.