The decision by the Federal Reserve to raise rates to contain rising inflation has put intense pressure on cryptocurrencies. A sales tsunami occurred. The two-year run of cryptocurrency ended this year. The market value of cryptocurrency reached nearly $ 3 trillion in November last year. However, Terra / Luna was shaken by the fall. Other cryptocurrencies have also been falling since then.
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Hedge Fund Three Arrows Capital Concerns Continue. This has not allayed fears among investors. The British Virgin Islands court has ordered the liquidation of three yaros capital. This impact is still on investors. That is why the crypto market is still in the extreme fear zone. Creates the Bitcoin Channel Pattern within the Hourly Time Frame. Consolidating between $ 20,000 and $ 22,000. The Daily RSI is also at the 25 level. Is in the oversold zone. The next level of support for Bitcoin is $ 14,000, according to the WazirEx Trade Desk.
However, according to Dashe Bank Analysis, the price of Bitcoin will reach $ 28,000 by the end of this year. Bear and Bulls are not currently involved in the market. It said the crypto rate would not rise in the near future if buyers were able to hold the bitcoin above $ 20,000. Bears will dominate if the price falls below this level.
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