September 28, 2022
Neuer Capital Review- What Makes it a Good Choice?

Crypto Engine is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today. 


When Bitcoin dropped below the $20K support line, many doomsayers immediately started talking about the possible crash. Filbfilb, the creator of DecenTrade used by many professional traders, has a very bleak scenario for all crypto enthusiasts. He predicts that the asset can dip to $10K. The opinion is controversial, but this analyst predicted the 2018 bottom quite well. However, it seems that the current situation is slightly different.

After reaching $18.54K on September 7, Bitcoin has been moving sideways for a while. The new Bull push occurred on Friday when the token managed to gain 7% and reached $20.8K by the end of the trading day. During this period, ETH also gained 5% and reached a new $1.7K peak (the highest price after two weeks of struggling to break through the $1.6K barrier).

Bulls continued their push and managed to temporarily break through the $21K resistance level, but had to step back briefly. On Saturday, the price reached $21.1K and dropped back to $20.9K right after. To many, the series of events was quite surprising, but some analysts chimed in to say that this surge is likely caused by the weakening of the US dollar which dropped sharply against the euro. While the price quickly corrected, the renewed optimism from crypto investors kept gains steady across the two days.

The rally may be temporary. The global recession is still hurting all sectors badly causing investors to panic and move their capital rapidly in attempts to hedge against risks that appear daily. Those who are sure that the US dollar has what it needs to stabilize and withstand inflation continue putting their faith in fiat. However, many are seeing this moment as a perfect opportunity to hedge against fiat currencies by investing in crypto.

Note that many other factors are affecting the whole crypto market. The upcoming Ethereum merger, the anticipation for the Vasil hard fork of the Cardano network, and the uncertainty in the global economy shift prices dramatically. However, this Bull push is certainly a good sign for many people who are holding BTC at the moment.


trade now

Altcoin Directory is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site (namely Branded Content Posts) is paid content that is not written by our authors and the views expressed do not reflect the views of this website. Any disputes you may have with brands or companies mentioned in our content will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Cryptocurrencies, NFTs and Crypto Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.


Leave a Reply

Your email address will not be published.

Only $250 and you're Rich - Simple way to make $1,372/Day Learn More
Skip to content