Today the Crypto market has turned into a bloodbath after most of the cryptocurrencies have extended their loss. After Bitcoin price started the year on a much positive note, it gave traders a hope for a major bull run. However, with its current trade action the market participants are once again doubting the crypto market stability.
This crypto market clash was followed by SEC’s crackdown on Kraken for its unregistered sale of crypto staking. At the moment, Bitcoin is priced at $21,800 after a decrease of 4.23% over the last 24hrs.
Bitcoin Juggles Between Bears And Bulls
Meanwhile, a renowned crypto analyst and trader known as Rekt Capital warns his followers over Twitter that Bitcoin might soon lose its major support area. As per the analyst Bitcoin needs to maintain its price action above $22,692 to keep the bulls active.
Source: https://coinpedia.org/bitcoin/bitcoin-price-to-regain-its-bull-run-above-this-level-here-is-the-target/