Bitcoin Analysts Weigh Under $17.5,000 After 'Weak' BTC Price Rebound
There's "no way" Bitcoin price performance won't eclipse recent $17,500, analyst insists .
Market Update
Bitcoin (BTC) avoided losses as US stocks plunged at Wall Street's July 14 open, but traders remained jittery.
BTC/USD 1-Hour Candle Chart ( Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered around $20,000 on the day.
Wall Street opened with losses, with the S&P 500 and Nasdaq Composite Index both down around 1.8% at the time of writing.
Bitcoin nonetheless managed to hold its own as the cryptocurrency's biggest correlation to stocks fell to its 2022 lows so far.
That said, few were willing to say the worst was over for the hodlers.
“This has been a weak rebound so far. Another possible continuation downside...,” macro analyst Aksel Kibar summed up Twitter followers.
Michael Suppo, popular analyst and social media personality, expected a bottom below June's near $17,500 levels thanks to a cocktail of macro factors.
"There's no way $17.5000 is low for Bitcoin," he bet.
Others hoped that
There's "no way" Bitcoin price performance won't eclipse recent $17,500, analyst insists .
Market Update
Bitcoin (BTC) avoided losses as US stocks plunged at Wall Street's July 14 open, but traders remained jittery.
BTC/USD 1-Hour Candle Chart ( Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered around $20,000 on the day.
Wall Street opened with losses, with the S&P 500 and Nasdaq Composite Index both down around 1.8% at the time of writing.
Bitcoin nonetheless managed to hold its own as the cryptocurrency's biggest correlation to stocks fell to its 2022 lows so far.
That said, few were willing to say the worst was over for the hodlers.
“This has been a weak rebound so far. Another possible continuation downside...,” macro analyst Aksel Kibar summed up Twitter followers.
Michael Suppo, popular analyst and social media personality, expected a bottom below June's near $17,500 levels thanks to a cocktail of macro factors.
"There's no way $17.5000 is low for Bitcoin," he bet.
Others hoped that
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