14
« on: November 28, 2022, 10:45:50 AM »
Since the FTX collapse has shaken the whole crypto market, made most of the investors lose confidence and create a liquidity crisis within the crypto market. This could surely extent the crypto winter till the last of 2023. It has been witnessed that after FTX filed for bankruptcy on November 11, most of the institutional investors in FTX had their investments stuck on the platform.
As per reports Crypto winter may be extended indefinitely due to the stock market nearer to a bearish fallout. Here, the platform speaks about the whole crypto market that has been concentrated under bearish pressure, because both bitcoin and the altcoins have dived towards the lows. Also the Nasdaq or share market on which the crypto markets are co-related highly, are expected to undergo a bearish divergence that could increase the chances of a crypto market crash shortly.
We can see that Bitcoin(BTC) price is trading around $16K for a very long time because the volatility is diminished largely. It has been believed by many sources and reports that BTC price may see fresh rejection as an increase beyond $16,500 seems to be not feasible in current times. In addition to this bTC is testing the crucial support levels across $16,100, below which the price may head towards the yearly lows near $15,500.