Bitcoin at $22,000? Bearish calls intensify as the crypto selloff amps up

SourceYahoo News
SectorFinancial Markets
CountryMiddle east

Sophie MellorJuly 20, 2021, 4:14 AM·2 min read

For the second time in a month, Bitcoin has fallen below $30,000. This time, the bearish calls for further drops are growing louder.

Bitcoin and other digital coins tumbled alongside global stock markets yesterday. That wiped $85 billion in value off the entire crypto market in a 24-hour span as of 5 a.m.

EST today. Bitcoin fell as much as 7%; Ether and Dogecoin fell around 7%; and Binance coin tanked a solid 12%, gearing some traders up for even deeper price declines.

The last time Bitcoin fell below the $30,000 mark was on June 22. The king of the crypto coins is now trading 37% below its 100-day moving average, and it’s now more than 50% below its mid-April all-time high of almost $65,000.

Currently Bitcoin is hovering around the $29,500 mark, but market watchers say it could fall to around $22,000. “I am expecting a strong dip toward $22K,” said Patrick Heusser, head more...