Where Are Bitcoin Prices Heading Next After Falling Below $30,000?

Where Are Bitcoin Prices Heading Next After Falling Below $30,000?

This is a BETA experience. You may opt-out by Bitcoin prices bounced back today after falling below $30, 000 yesterday. Bitcoin prices have suffered some turbulence lately, dropping under $30, 000 yesterday and reaching their lowest since July. Since then, the cryptocurrency bounced back somewhat, rising to $32, 650 today, additional TradingView figures show. Following this recovery, the digital asset fell back, and was trading close to $30, 750 at the time of this writing. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Analysts have cited varying factors when explaining these recent declines, including central banks hiking benchmark rates and selling assets they accumulated during the recent pandemic. Several market observers pointed to risk-off trading when describing the recent downward movement in bitcoin prices. Scott Melker, a crypto investor and analyst who is the host of The Wolf Of All Streets Podcast, commented on this development. "Bitcoin has fallen alongside global markets as traders and investors risk off in the face of recession and inflation concerns," he stated. "Bitcoin dropped to below 30K, the tail end of which was largely the