{"id":3191,"date":"2023-02-13T14:17:56","date_gmt":"2023-02-13T14:17:56","guid":{"rendered":"https:\/\/www.coinfantasy.io\/blog\/?p=3191"},"modified":"2024-08-28T19:41:56","modified_gmt":"2024-08-28T14:11:56","slug":"bitcoin-bleeds-red-during-valentine-struggles-to-break-resistance","status":"publish","type":"post","link":"https:\/\/www.coinfantasy.io\/blog\/bitcoin-bleeds-red-during-valentine-struggles-to-break-resistance\/","title":{"rendered":"Bitcoin Bleeds Red During Valentine! Struggles to Break Resistance"},"content":{"rendered":"\n

Bitcoin is on the red for the ast few days and is below $22,000. But fortunately, this is not the end. Bulls might indeed be preparing a new upward push in the coming days or weeks.<\/p>\n\n\n\n

Bitcoin had fallen to three-week lows in the last week, making it a target for shrewd whales.<\/p>\n\n\n\n

The recent increase in bitcoin has made market players feel better overall. As signals of a bull market begin to emerge, this change in the landscape has sparked a bullish momentum throughout the sector due to bitcoin price fall<\/a>. <\/p>\n\n\n\n

The Analysis!<\/h3>\n\n\n\n

When the price on the 4-hour timeframe was rejected from the $25K considerable resistance region and seized sell-stop orders below the $22.3K minor support level, a little bearish leg was started.<\/p>\n\n\n\n

During the correction phases of a bullish rise, the price usually grabs sell-stop orders beneath support levels before soaring higher. <\/p>\n\n\n\n

The price has also achieved a vital support area after the current decline, which comprises the $21K support level and Fibonacci’s key levels between $21,604 and $20,785.<\/p>\n\n\n\n

As a result, BTC has a lot of support and will soon begin another bullish leg. <\/p>\n\n\n\n

Why is it Happening with Bitcoin?<\/h3>\n\n\n\n

The fall of FTX, which processed daily transactions worth about $1 billion, started the downturn in November 2022. Its demise is impacting other crypto exchanges.<\/p>\n\n\n\n

When Celsius Network, a significant US cryptocurrency lending company, took the decision to freeze withdrawals and transfers, citing “extreme” conditions, Bitcoin fell below $20,000<\/a> for the first time since 2020. <\/p>\n\n\n\n

Another reason is China’s expanding crackdown on cryptocurrencies.<\/p>\n\n\n\n

Could the price of Bitcoin Fall to zero?<\/h3>\n\n\n\n

Fiat money that is no longer in circulation has no value other than to collectors, who will likely still pay you well for a coin or piece of paper that is 100 years old. The perceived value of a currency determines its value.<\/p>\n\n\n\n

It’s important to note that the arrival of substitutes or events like hyperinflation typically causes the failure of currencies no longer in use. Such events frequently cause a considerable devaluation of the affected currencies. Since Bitcoin cannot be created randomly and has a set maximum production, hyperinflation is not possible in this instance. <\/p>\n\n\n\n

In the meantime, political pressure, faulty technology, and all forms of news coverage that can propagate “Fear, Uncertainty, and Doubt” (FUD) are the natural causes of a drop in the price of Bitcoin. We may anticipate both substantial price gains and decreases to occur until Bitcoin truly reaches most of the world; volatility reigns for the time being.<\/p>\n\n\n\n

Will Bitcoin Recoup its Losses?<\/h3>\n\n\n\n

Nobody can predict what will happen to the price of Bitcoin in the future due to the extreme irrationality of the cryptocurrency market. Additionally, a company’s past success fails to ensure future success.<\/p>\n\n\n\n

Despite this, there is a real likelihood that the market environment has altered and the bearish trend has ended. Naturally, everyone is now used to the bearish trend. But a bear market can’t last indefinitely. <\/p>\n\n\n\n

When is the Ideal Moment to Buy Bitcoin?<\/h2>\n\n\n\n

The scenario you’re in and why you’re buying bitcoin will determine when it’s optimal to do so. The response will change significantly depending on whether you’re purchasing Bitcoin as a long-term investment<\/a>, for day trading, or to send money abroad. It doesn’t matter when you buy Bitcoin if you only need a transfer and a conversion back to currency. <\/p>\n\n\n\n

However, if you buy Bitcoin for trading or investment, you must use technical analysis because choosing when to acquire Bitcoin is a complex and frequently irrational decision. Generally speaking, the most significant moment to purchase Bitcoin is at the start of a positive trend. But these circumstances are very uncommon. You will need to hunt for appropriate entry points much more frequently while utilizing a trading strategy and considering the state of the market.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin is on the red for the ast few days and is below $22,000. But fortunately, this is not the end. Bulls might indeed be preparing a new upward push in the coming days or weeks. Bitcoin had fallen to three-week lows in the last week, making it a target for shrewd whales. The recent […]<\/p>\n","protected":false},"author":7,"featured_media":3220,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false},"categories":[341],"tags":[339],"yoast_head":"\nBitcoin Bleeds Red During Valentine! What Investors Need to Know<\/title>\n<meta name=\"description\" content=\"Bitcoin Bleeds Red During Valentine! Struggles to Break Resistance! Why is it falling? What future holds? 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