After staying above $20k for weeks, Bitcoin again falls below it

by | Jul 20, 2022 | Bitcoin, Market, Market News, News | 0 comments

Like any part of the financial sector, the digital currency market since ute emergence has been experiencing severe highs and lows. However, unevenness and certainty are what have made those involved with it quite concerned. They are now trying to come up with ideas and methods that can further be incorporated to keep the value of the cryptocurrency in check. There are various forms of cryptocurrency and not all experience the same thing at the same time.

However, cryptocurrency such as the Bitcoin as well as the Ethereum has been experiencing a never before seen low in their whole career graph. In recent times, we wee been experiencing the brunt of it the most.

The most recent trend in the cryptocurrency market

Even though the cryptocurrency, Bitcoin has made a jump up, after falling from the heights of value that it enjoyed in the year 2017, it did not bring any relief to those associated with it. The value of any kind of cryptocurrency goes up or down depending upon the assumptions made by the public. If the public predicts it to be on a downward trend, then the crypto would not be able to garner as much interest or investment as it would if there is an upward trend predicted.

It is because of this reason as well as other factors playing a role or pressuring the traders, that those involved in it were not able to be too happy with the jump in value that was witnessed recently.

The ups and downs in the value of the Bitcoin

On Monday, one of the largest cryptocurrencies that are available today, Bitcoin had raised above the usual mark of 20,000 dollars. However, in the latest trend that has been recorded by various analysts and studies, Bitcoin had fallen below the 20 thousand dollar mark. And in the coming days, it showed a further downward trend raising various questions and fell as low as 17 thousand dollars.

Even though those who are associated with it are prepared now to face what awaits them and the fate of the crypto, the currency has fallen almost as much as 70% from what it enjoyed during its all-time high, in November. Taking into consideration the scenario that is prevailing in the market, and the trend that Bitcoin has been showing various analysts and researchers think that the market is going to hit an all-time low soon.

What have the studies shown?

Several studies by analysts have thrown light on the current tragic study of Bitcoin. They have suggested that if steps are not taken to rame the inflation, then the downfall of Bitcoin can further worsen and dip deep enough to lose its whole existence. One of the reasons cited by these studies as the reason for this downfall is the increase in rates by the Fed. This aggressive increase has propelled the digital currency to the verge of inflation.

Has it already reached the bottom of the market?

Even though it is a scenario that is just being assumed right now, the bottom of the market won’t be far enough if this downward trend continues for Bitcoin, as suggested by some of the most well-known and trusted analysts. Various studies show that big liquidations have already been done and what is left is ok the verge of being liquidated. Some people have not yet reached that phase but if this trend continues then another wave of liquidation shall appear. It is a scenario that is feared by analysts and only quick and smart steps can save it from being completely liquidated.