Insights

Bitcoin Approached Lowest Weekly Close In 2 Months

Despite getting close to the lowest weekly close in 60 days we have seen a lot of investors buying the dip. The buyers seem to love the savings at $53,000 and have since sent the price above $57K. If things turn back around and $50K is broken however, investors may get shaken out of the market and downside tumultuousness could be inevitable. It is important to keep in mind that BTC was trading below $18K this time last year. Significant floors exist every $10K down, If $50K breaks, we go to $40K, if $40K breaks we go to $30. Worst case scenario is breaking $30K. If $30K breaks we may very well see a Bitcoin priced under $10,000. Welcome to Bitcoin!

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