{"id":499959,"date":"2022-08-25T07:40:27","date_gmt":"2022-08-25T07:40:27","guid":{"rendered":"https:\/\/ktsl888.com\/?p=499959"},"modified":"2022-08-25T07:40:27","modified_gmt":"2022-08-25T07:40:27","slug":"bitcoin-price-watch-btc-facing-renewed-challenge-to-keep-price-above-20000","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-watch-btc-facing-renewed-challenge-to-keep-price-above-20000\/","title":{"rendered":"Bitcoin Price Watch: BTC Facing Renewed Challenge To Keep Price Above $20,000"},"content":{"rendered":"<p><em><span style=\"font-weight: 400\">Bitcoin price recently completed a two-month surge that resulted in a price increase to over $25,000; consequently, investors are now concentrating on the cryptocurrency&#8217;s next target price.<\/span><\/em><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Bitcoin price spikes to over $25,000 following a two-month surge<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Bitcoin now looking bearish; struggling to keep its price above $20,000<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">BTC down by 0.12%; currently trading at $21,498.36<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Bitcoin (BTC), the leading cryptocurrency, is now displaying negative sentiment after first exhibiting bullish indicators. The flagship coin is now fighting once more to keep its price above $20,000.<\/span><\/p>\n<p><span style=\"font-weight: 400\">By the end of September 2022, the cryptocurrency community on CoinMarketCap forecasts that Bitcoin price will climb by 36.75% from its current value, trading at an average price of $29,346. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Roughly 20,683 community members cast their votes to determine the pricing target.<\/span><\/p>\n<h2><b>BTC Unable To Surpass $25,000 Due To Macroeconomic Conditions<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The price of bitcoin fluctuates by about $21,000. Even though Bitcoin&#8217;s recent rally tried to lift the asset out of a prolonged bear market, the community&#8217;s forecast is still optimistic.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The crypto market reacted poorly to the Federal Reserve&#8217;s decision to raise interest rates amid the rising inflation, but BTC&#8217;s failure to surpass $25,000 has emerged as macroeconomic concerns continue to take center stage.<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of publication, Bitcoin was significantly down 10% over the previous week. <\/span><span style=\"font-weight: 400\">Bitcoin price stabilizes above $21,000 as a major shift is soon to come.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/want-to-hodl-usdc-check-these-indicators-first-to-ease-doubt\/\"> Want to Hodl USDC? Check These Indicators First To Ease Doubt<\/a><\/div>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-499961 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/08\/AA-2.png?resize=510%2C287\" alt=\"\" width=\"510\" height=\"287\"><\/p>\n<pre style=\"text-align: center\">Chart: CoinMarketCap<\/pre>\n<p><span style=\"font-weight: 400\">According to Katie Stockton, founder, and managing partner at Fairlead Strategies, the price of Bitcoin, the most popular cryptocurrency, is anticipated to retrace to $18,300.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The largest coin in the world has fallen below its 50-day moving average, according to Stockton, which may be a signal of an oncoming significant decline.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Despite the turmoil, cryptocurrency trading specialist Michal van de Poppe said in a tweet on August 23 that Bitcoin is stable and could derive some advantages from the Eurozone&#8217;s activities.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In the past, BTC has a tendency to fall between -14% and -28% below the 200-MA. In fact, mid-June saw a -21% decrease in BTC below the 200-week MA, which was in sync with historical data, he noted.<\/span><\/p>\n<h2><b>Stockton Predicts Long-Term Downturn For Bitcoin Price<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Since the cryptocurrency has lost momentum, analyst now sees a higher risk of a long-term downturn. Stockton predicts that the largest cryptocurrency&#8217;s price will soon settle.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Stockton predicts that it will most certainly drop to the low $18,000 level following a brief relief rally.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Unfavorable macroeconomic conditions have had a significant negative impact on the cryptocurrency industry this year, with Bitcoin currently trading at a price that is almost 69% below its all-time high.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/litecoin-near-term-route-determined-by-this-factor\/\"> Litecoin (LTC) Near-Term Route Could Be Determined By This Factor<\/a><\/div>\n<p><span style=\"font-weight: 400\"> <img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/YDb4TV10\/\" width=\"1834\" height=\"875\"><\/span><\/p>\n<pre style=\"text-align: center\">BTC total market cap at $414 billion on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" rel=\"nofollow\">TradingView.com<\/a>\r\n\r\nFeatured image from Bernard Marr, chart from <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" rel=\"nofollow\">TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price recently completed a two-month surge that resulted in a price increase to over $25,000; consequently, investors are now concentrating on the cryptocurrency&#8217;s next target price. Bitcoin price spikes to over $25,000 following a two-month surge Bitcoin now looking bearish; struggling to keep its price above $20,000 BTC down by 0.12%; currently trading at $21,498.36 Bitcoin (BTC), the leading cryptocurrency, is now displaying negative sentiment after first exhibiting bullish indicators. The flagship coin is now fighting once more to keep its price above $20,000. By the end of September 2022, the cryptocurrency community on CoinMarketCap forecasts that Bitcoin price will climb by 36.75% from its current value, trading at an average price of $29,346. Roughly 20,683 community members cast their votes to determine the pricing target. BTC Unable To Surpass $25,000 Due To Macroeconomic Conditions The price of bitcoin fluctuates by about $21,000. Even though Bitcoin&#8217;s recent rally tried to lift the asset out of a prolonged bear market, the community&#8217;s forecast is still optimistic. The crypto market reacted poorly to the Federal Reserve&#8217;s decision to raise interest rates amid the rising inflation, but BTC&#8217;s failure to surpass $25,000 has emerged as macroeconomic concerns continue to take center stage. At the time of publication, Bitcoin was significantly down 10% over the previous week. Bitcoin price stabilizes above $21,000 as a major shift is soon to come.\u00a0 Related Reading: Want to Hodl USDC? Check These Indicators First To Ease Doubt Chart: CoinMarketCap According to Katie Stockton, founder, and managing partner at Fairlead Strategies, the price of Bitcoin, the most popular cryptocurrency, is anticipated to retrace to $18,300. The largest coin in the world has fallen below its 50-day moving average, according to Stockton, which may be a signal of an oncoming significant decline. Despite the turmoil, cryptocurrency trading specialist Michal van de Poppe said in a tweet on August 23 that Bitcoin is stable and could derive some advantages from the Eurozone&#8217;s activities. In the past, BTC has a tendency to fall between -14% and -28% below the 200-MA. In fact, mid-June saw a -21% decrease in BTC below the 200-week MA, which was in sync with historical data, he noted. Stockton Predicts Long-Term Downturn For Bitcoin Price Since the cryptocurrency has lost momentum, analyst now sees a higher risk of a long-term downturn. Stockton predicts that the largest cryptocurrency&#8217;s price will soon settle. Stockton predicts that it will most certainly drop to the low $18,000 level following a brief relief rally. Unfavorable macroeconomic conditions have had a significant negative impact on the cryptocurrency industry this year, with Bitcoin currently trading at a price that is almost 69% below its all-time high. Related Reading: Litecoin (LTC) Near-Term Route Could Be Determined By This Factor BTC total market cap at $414 billion on the daily chart | Source: TradingView.com Featured image from Bernard Marr, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":499960,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1119,1122,1144,65296,8686],"class_list":["post-499959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btc","tag-btc-price","tag-btcusd","tag-ethbtc","tag-ethusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Watch: BTC Facing Renewed Challenge To Keep Price Above $20,000<\/title>\n<meta name=\"description\" content=\"Bitcoin price recently completed a two-month surge that resulted in a price increase to over $25,000; 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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