bitcoin It continues to move up and down around the $20,000 zone for a long time.
While the monetary tightening of the FED and the bad outlook in the US stock markets prevented the risk appetite in Bitcoin from increasing, experts underline that Bitcoin is in an important region.
The last comment on this issue came from analyst Josh Rager. Evaluating Bitcoin over the outlook on the S&P 500, the analyst dropped the note that “it doesn’t look that good right now”.
“The S&P 500 has been rejected from a significant level and looks like it wants to drop further.
We are testing the $18-19,000 range in Bitcoin for the 5th time.
This doesn’t look very good. But maybe a bounce will come from here.
I’m neutral towards the market right now and will be watching this zone in the S&P 500.”
Bitcoin’s prolonged stance below $20,000 and the pressure of the FED on the markets turned expectations lower. Recently, Rekt Capital, which evaluates Bitcoin, stated that it maintains its expectation of decline.
Another analyst, Gareth Soloway, recently Expecting Bitcoin to drop as low as $12,000 expressed.
We see that the bullish expectation of analysts and investors regarding Bitcoin and altcoins has decreased. Investor interest is particularly low. This signals that we may be at a possible local bottom. We will be watching whether the market maker will make a move that will leave everyone in the wrong again.
*Not Investment Advice.
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