Is Bitcoin really cheap at $19,000? Assessing if it could go further down - Aliens: AI Crypto News & Markets Updates
Logo
Logo

Feed

Coins

About

Latest

Bitcoin

Ethereum

NFT

Gaming

Policy

Blockchain

Altcoins

Is Bitcoin really cheap at $19,000? Assessing if it could go further down

PublisherPublisher
AMB Crypto

Sat, Jul 02, 2022

Banner

Aliens TLDR

He also noted that the purchase was made at $19,000 per BTC, a price level that he described as cheap.

The current price level represents more than an 80% discount from its all-time high (ATH).

Well, a major factor that contributes to the perception that BTC is cheap or discounted at $19,000 is that most of the institutional traders bought in at higher price levels.

This confirms that it found support near this price level after experiencing strong selling pressure since 26 June.

Addresses holding between 1,000 and 10,000 BTC increased their supply from 26.43% on 29 June to 26.5% by 1 July.

In contrast, addresses holding between 10,000 and 100,000 BTC dropped from 11.37% from 29 June to 11.23% on 1 July.

Addresses holding more than 100,000 BTC maintained control of 4.08% of Bitcoin’s supply during the same time period.

Although the $19,000 price level is currently holding as a strong support level, unfavorable market conditions may trigger more downside.

Read full article on Aliens appRead from Original Source

The best experience is on the app

Everything happening in the crypto world, in real time

app

Recommended Stories

Article list item background

Litecoin falls beneath a bullish order block, could $40 be next target

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the opinion of the writer. Just a week ago, Litecoin [LTC] rallied to the $61 level but faced rejection there. This was a bearish development, especially for long-term investors. The market structure continued to remain bearish, and […]
AMB Crypto
·

Jul 3

Altcoin

Recommended Stories

Article

AAVE traders have this in store for coming days after bearish pennant’s…

Article

Assessing the odds of The Sandbox [SAND] falling below $1 mark

Article

Axie Infinity: Risk would be to buy range lows with a stop-loss at…

Article

Stellar: Factors that didn’t play in favor of XLM’s rally despite…

Article

Bitcoin, Ethereum and Altcoins Present Signs of Incoming Price Turnaround; Here’s When

Article

BTC, SOL and AVAX Price Analysis for July 2

Article

3 Reasons Why Bitcoin Might Retrace in Upcoming Week and Reach $22,000

The best experience is on the app

Download app to discover exclusive content, live market updates and more.

Get smarter and richer with the Aliens Crypto Digest

Stay informed and entertained, for free.

Follow Aliens

Advertise