Bitcoin is running below $30,000 this weekend

Despite recent instabilities, some analysts remain optimistic

Cryptocurrency market instabilities continue to affect the Bitcoin (BTC). This weekend, the coin fell below $30,000 once again, and this after facing a 20% decline in the last 14 days. In December 2021, it surpassed the price of US$66 millionbut em 2022 accumulates the remains of 38%. According to Daniel CoquieriCEO of Liqi, these results were expected after the peaks of the last two yearsperiod of historically low interest rates, and complete:

“Last year, all the central banks injected a lot of money into the economy, a lot of liquidity. This obviously greatly favored the market for equity assets such as Bitcoin and the exchange. And now, given inflation all over the world, they’re draining that liquidity with high interest rates, it’s shifting money from variable to fixed income.”

now for Vinicius BitzerBTC rallies are the result of a series of events that have caused a sense of fear in the market, especially after recent headline events:

There was the war in Ukraine which, as it was a time of uncertainty, Bitcoin went through a period of massive liquidation. At the beginning of the year, rumors began to point to a rise in US interest rates.

Youtuber buys $3 million worth of cryptocurrencies which drops to $1,000 the other day
The collapse of LUNA destroyed the savings of several investors

In times of international crisis, cryptocurrencies are used as a way for citizens to mitigate the impacts of international sanctions and protect their investments – and Bitcoin has remained politically neutral, regardless of pressures and/or demands from major nations. In recent days much has been said about the collapse of the TerraUSD (UST) / LUNAand the chaos reverberated throughout the segment.

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As much as the BTC and the UST do not have direct ties, investor confidence will take time to recover, and Bitzer concludes:

“LUNA was in the top 10 best cryptocurrencies and in one day it fell over 99%, entered the top 200. It was worth $100 and now it is worth less than 1 cent. It will take some time for the market to regain that confidence, because of that insecurity the investor has, especially if they have lost more with the Earth.


However, for the creator of the price prediction model Stock to flow (S2F), BTC’s downtrend would be coming to an end. Its creator, the analyst”Plan B”, known for making bold predictions, was optimistic about the future of the currency. Even if its methods are disputed by experts, PlanB has built its reputation by anticipating, in 2019, a market capitalization of $1 trillion for Bitcoin.

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