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WARNING: BITCOIN IS CRASHING LOWER! BEARISH PATTERN SUGGESTS BITCOIN WILL CRASH EVEN HARDER!
3 years ago
2
Bitcoin looks like it has very shallow support around the 37/38 region, but this can be tested. I actually believe that Bitcoin and other cryptocurrencies will be going down as the Federal Reserve continues to raise interest rates. When the Federal Reserve raises interest rates, it tends to make the dollar temporarily stronger (and thus, alternative currencies like Bitcoin weaker). There was a temporary move upward recently when people thought people in Ukraine and Russia were buying Bitcoin, but it now seems to be selling off from that time period. Right now is not the proper time to buy crypto.
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