Bitcoin manages to hold on to $16000 support.
Barely managing to stay above $16000, Bitcoin saw some heavy sell-off in the last 24 hours, with other altcoins also registering steep declines. Analysts issued investors warnings of volatility in the coming few weeks, confirming that Bitcoin had been trading flat for the last few days.
Crypto markets continued to move opposite to the equity markets, with the Nasdaq, S&P 500, and Dow Jones Industrial Average witnessing minor positive trends. This kind of movement in crypto markets has been increasingly seen in recent times. With traders not being very optimistic in such unpredictable times, a few experts also confirmed that Bitcoin had never before seen the sort of ‘disaster’ that a few critics had seen coming after the recent unfortunate events in the crypto space. BTC is in a compact space, holding on to its support levels, with long-term investors bullish on the crypto.
BTC/USD price chart in 2022
Bitcoin is currently trading at around $16,100 on November 21, 2022, with BTC/USD down by 0.79% in the last 24 hours. BTC/USD is trading below its 20-day EMA (18,666.74), with other cryptos also witnessing downward movements in the last 24 hours. The $16000 around levels are still in force as BTC’s immediate support.