‘Max Pain’ Bitcoin Faces $9,100

[forex4you]

'Max Pain' Bitcoin Faces $9,100

'Max Pain' Bitcoin Faces $9,100

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

DEinvestment

Since the asset has maintained its position of over $18,000, it has fallen by more than 6% over the last week. When Bitcoin reached a peak of $20,071 on Sunday, the bears firmly rejected the recent gain.

The Federal Reserve’s aggressive rate hike campaign worsened the previous decline. Since then, BTC has fallen precipitously, but it is still firmly above the $18.5k support level . At the time of reporting, the asset’s price was $18,719, a decrease of 5.25% from the previous week.

A well-known Bitcoin analyst believes that Bitcoin ( BTC ) has not yet touched the bottom because he predicts a drop to $9,100.

Source: 'Max Pain' Bitcoin Faces $9,100