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$20,000 Is A Key Support Level For Bitcoin, Says Managing Director Of EToro US
Summary: The crypto market is experiencing a sharp correction. As of writing, Bitcoin price plummets to around $32,000, according to the data from Bitpush. Guy Hirsch, managing director of eToro US, told Coindesk that the key level for BTC in this callback is $20,000, which is the level where many institutions bought Bitcoin in December last ...
The crypto market is experiencing a sharp correction. As of writing, Bitcoin price plummets to around $32,000, according to the data from Bitpush. Guy Hirsch, managing director of eToro US, told Coindesk that the key level for BTC in this callback is $20,000, which is the level where many institutions bought Bitcoin in December last year and pushed the price to over $30,000. He believed the rebound will come soon as the current price is resistant above 30,000, added: “If we stay above $20,000, we are likely to experience the same types of rapid recoveries that we have seen in the past. If we fall past $20,000, which appears to be unlikely because of the amount of institutional buying at that level, it’s anyone’s guess how far we fall, but we do feel this scenario is unlikely."
By Mary Liu
Tags: Bitcoin,Crypto Market,etoro,Guy Hirsch
Link: $20,000 Is A Key Support Level For Bitcoin, Says Managing Director Of EToro US [Copy]
