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Bitcoin Price Back Down! Will the Next Correction bring prices to 30K?

The Bitcoin price could not continue the positive development for long and fell below $ 42,000 again. It is slowly becoming clear that the road to new heights could take longer than expected. Is it even likely that we will see Bitcoin price at $30,000 again?

Bitcoin Price Failed to stabilize upwards

After BTC prices fell from $46,000 to $42,000 in early January, it looked like a trend reversal. Bitcoin went back above $43,000 and the altcoins, in particular, saw very high gains. Many investors hoped that the bottom for the “most important cryptocurrency” had been reached and those bullish weeks would follow again. 

However, the upswing could not be confirmed. The Bitcoin price first fell below $43,000 and now again below the $42,000 mark. Altcoins have also lost momentum, with the exception of Cardano. Is there another Bitcoin crash to $30,000?

BTC/USD 1-day chart showing the retracement downwards of BTC
Fig.1 BTC/USD 1-day chart showing the retracement downwards of BTC – TradingView

Bearish Voices from the Financial world

Bitcoin’s current weakness has many bearish analysts suggesting that Bitcoin’s price has yet to bottom and that the major cryptocurrency could be entering a “crypto winter” in 2022. We often hear the $30,000 mark, to which BTC could soon fall again.

Reasons for the weakness of the cryptocurrency are possible interest rate increases at the US Federal Reserve. This step should help against rising inflation. The low-key interest rates have been very advantageous for the Bitcoin course in recent years. According to the American financial services provider Invesco, BTC is still threatening to fall below $30,000 in 2022.

Will Bitcoin Price Rally in 2022?

In contrast, forecasts from the crypto sector are mostly rather optimistic. These have not always proved to be correct towards the end of 2022. But the course of the largest cryptocurrency is still very difficult to predict. But a pinch of optimism is rarely inappropriate. 

Twitter user TechDev promised that the next big and possibly final bullish phase for the Bitcoin course could be imminent. 

The post Bitcoin Price Back Down! Will the Next Correction bring prices to 30K? appeared first on CryptoTicker.

Bitcoin Price Back Down! Will the Next Correction bring prices to 30K?  

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