- BTC crashes down to $35K.
- Current rate BTC will touch down to $34K.
- BTC will hit rock bottom of $24K in 2022, before surging up.
The focus lights are always upon the king of the cryptos, the Bitcoin (BTC). Whether it be good or bad, there never goes a day without speculating about the king always. However, the year 2022, has not yet been as fruitful as 2021 was for the BTC.
Within the past 24 hours, BTC has crashed down deliberately by nearly 15%. In spite of this, the price of BTC dropped dead straight to $35K just within hours. Hopes were high for the BTC to hit its $40K trademark and from there to surge up. However, the New York stock market crash had a significant impact on BTC as well.
The Downfall of BTC
About 24 hours back, till then, BTC was trying its level best to stay up close to the $40K price range. Nevertheless, the Federal Reserve’s decision to hike up the interest rates for BTC and the crypto industry, the price of BTC fell steep instantly hitting $35K deliberately.
From a high of $39,592, BTC went down falling to $35,871, within a time period of just 5 hours. Since then, BTC has followed the same trend till now. Currently, BTC is trading for the price of $35,482, with the graphs all down by 7.49%.
As the king goes down, so does the entire kingdom. Accordingly, the entire crypto market crashed down, and yet no signs of climbing up or even trying to resurface. In spite of this, Ethereum (ETH) is down too by almost 8%.
According to market analysts, BTC will be full of bears, falling down consistently. Also, BTC is expected to hit rock bottom of $24K in 2022. Seems, people no longer value BTC as how it was valued a year back. Hopes and promises of BTC are rather less these days.
