Bitcoin Price Drops Under Crucial Support, More Pain Ahead?
Amid the current downward spiral, Bitcoin has been breaking under crucial support levels which shows that the correction is far from over and there’s more pain ahead. As per popular crypto analyst Ali Martinez, there’s a possibility of the BTC price dropping all the way to $23,000. In his recent tweet, Martinez writes: advertisement “Notice that #Bitcoin appears to be losing all major areas of support. This increases the probability of a correction to the next important demand wall between $23,200 and $24,000, where 850,000 addresses had previously purchased 340,000 BTC”. Courtesy: IntoTheBlock The current selling pressure on Bitcoin increased over the last hours as the US markets opened on a negative note. All of the top-three US indices are down by 0.7% as of press time, as the debate over raising the debt ceiling drags into another day. As the negotiations between the lawmakers continue, investors remain worried about...