Alex Thorn, crypto firm Galaxy Digital Group’s head of research, argued that even if a further crash was in the cards, traders who bought BTC in similarly grim occasions in bitcoin’s history could return a profit within as soon as a month. If the largest cryptocurrency were to suddenly sell off, he pegs $17,000 as a key level that would provide strong price support. As of press time bitcoin was changing hands around $20,000, well off the all-time high around $69,000 reached last November.
Related posts
-
Bitcoin Under Pressure But Whales Hold Over $331 Billion Of BTC: A Sign To Buy?
While Bitcoin prices struggle for momentum and are caged inside a narrow range, on-chain data tells... -
Crypto Analyst Predicts Massive Move For Bitcoin, What’s The Target?
Despite BTC’s recent unimpressive price action, crypto analyst Doctor Profit has shared his bullish sentiment for... -
Bitcoin Chops Around $64K, With Japanese Yen’s Tumble Maybe Signaling ‘Currency Turmoil,’ Analyst Says
The yen’s devaluation didn’t impact crypto markets yet, but this could change if the BOJ steps...