Tuesday, March 21, 2023

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What Is Going With Bitcoin (BTC) And Altcoins?

In the crypto money sector, sharp decreases began to occur in the last minutes. The fact that the leading cryptocurrency Bitcoin (BTC) has fallen by about 10 percent within minutes has caused many investors to panic. As of now, when we look at Bitcoin, it can be seen that it has declined to $ 18,500, which is the critical support level. These declines caused altcoins to collapse as well. The US Commodity Futures Trading Commission (CFTC)’s announcement that it will review Binance’s purchase of FTX seems to have shocked the industry.

BTC, which rose sharply after Binance CEO CZ’s FTX purchase announcement, is experiencing a collapse in the last minutes. During these declines, the disruption of access to Coinbase also increased the fear on investors.

What Will Happen to Bitcoin (BTC) Now?

Although Bitcoin has declined to $ 18,500, it still continues to hold above the critical support level. If fear and panic continue to increase in the following minutes, BTC, which may lose the support of $ 18,500, may regress to $ 14 thousand in a short time.

If Bitcoin experiences such a collapse, altcoins are expected to lose 50 percent of their value from their current level. It is recommended that our readers minimize their risks by putting a stop to their investments in the minutes when such drastic movements occur.

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