Bitcoin 3-day Chart Indicates March 2020 Crash Recurrence

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Sel, 14 Jun 2022 2:00 PTG

Bitcoin 3-day Chart Indicates March 2020 Crash Recurrence

According to Tradingview, the world’s most popular cryptocurrency, Bitcoin, hit a new low of $20,828 at the start of the week. Because of this new pricing, BTC lost 16.54% of its value in less than a day- almost $5,000 in value.

Although being the largest and most famous cryptocurrency, Bitcoin is notorious for its huge climbs and equally dramatic declines. For example, BTC skyrocketed to an all-time high of over $69,000 in November 2021, then plummeted to just under $30,000 by the start of 2022.

  Bacaan Berkaitan | Bitcoin Long-Term Holders Realize March 2020-Like Losses As BTC Crashes

Bitcoin’s value peaked above $30,000 on June 1, 2022, but dropped below that the next day. It is currently trading below $22,000. This decrease is linked to TerraUSD, a stablecoin, breaking its $1 peg and Luna subsequently falling.

Selain itu, ia mencerminkan ketidaktentuan kewangan global yang didorong oleh peningkatan inflasi apabila pelabur berusaha untuk menjual "aset berisiko" seperti mata wang kripto.

The 3-Day Bitcoin chart Indicates a recurrence of the March 2020 Crash, based on the present state of the BTC market. Bitcoin’s popularity as a safe-haven asset began to wane in March 2020. It had lost half of its value in only two days.

Selepas membuka minggu di atas $9,000, mata wang kripto tiba-tiba jatuh di bawah $4,000 pada 13 Mac 2020. Bagaimanapun, setakat akhir pasaran AS, ia telah kembali kepada sekitar $5,400.

Bitcoin is currently trading below $22,000 on the daily chart | Source: BTC/USD chart from TradingView.com

Untuk kemalangan Mac 2020, Joe DiPasquale, Ketua Pegawai Eksekutif BitBull Capital, berkata bahawa pandemik global coronavirus menyebabkan pelabur memindahkan wang mereka kepada tunai sebagai satu bentuk perlindungan.

Beliau seterusnya menambah bahawa Bitcoin’s potential as a safe-haven asset is being questioned due to this steep decrease. But feels it is too early to look for any links between Bitcoin dan kelas aset lain.

Satu faktor yang menyumbang kepada bitcoin’s new lows is the halting of all withdrawals, transfers, and swaps between accounts by Celsius.

Celsius, a DeFi platform and one of the largest crypto lenders has been a significant cause of mistrust in the Bitcoin pasaran.

 Related Reading | Rich Dad, Poor Dad Author Changes His Mind About Bitcoin? BTC Crashes To $23K

The network announced they had paused withdrawals, swaps, and transfers between clients via Celsius. This announcement was made in the early hours of June 13, following Bitcoin’s slide below $24,000 and the whole crypto market losing about $250 billion in only seven days.

As the company’s announcement stated:

Disebabkan keadaan pasaran yang melampau, hari ini kami mengumumkan bahawa Celsius menjeda semua pengeluaran, Swap dan pemindahan antara akaun. Kami mengambil tindakan ini hari ini untuk meletakkan Celsius pada kedudukan yang lebih baik untuk memenuhi, dari masa ke masa, kewajipan penarikannya.

Sumber asal: NewsBTC