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Bitcoin Price Rebounds to $20,000

Navigasi - Today's Bitcoin price was seen rebounding after the previous two days it fell to its lowest level. On Monday, June 20, 2022, in the early hours of Indonesia time, the price of Bitcoin was at US$ 19,620 per chip or Rp. 291 million (assuming an exchange rate of Rp. 14,833 per US dollar).

Bitcoin Price Rebounds to $20,000
Bitcoin Price Rebounds to $20,000

The Coinmarketcap site shows the price of the asset created by Satoshi Nakamoto bounced around 3 percent when compared to the price exactly 24 hours earlier.

Even so, when viewed in the span of a week, the price of crypto assets with the largest market capitalization still depicts a correction of more than 30 percent compared to the position of the previous week.

The price of Bitcoin in the last few days had slumped to a lower position than the level of US $ 19,000 per chip. Fairlead Strategies Managing Partner Katie Stockton said that currently investors are not recommended to buy at low prices, aka buy the dip.

"Technical signals do provide hope in the short term, but the current momentum is still very negative," said Stockton, quoted by Bloomberg, Monday, June 20, 2022.

Meanwhile, Katie and other Bloomberg analysts predict that as long as the Bitcoin price has not penetrated the psychological level of US$ 20,000 per chip, it will be very dangerous for investors to buy this asset. The price level of US $ 20,000 was a record high in 2017, before the crisis in the same year hit.

analysts and market observers predict that there will still be a lot of panic selling by existing crypto investors. This panic selling is also considered prone to making the Bitcoin price fall again. Head of Market Insight Genesis Global Trading Noelle Acheson said investors who have Bitcoin in the long term are also starting to be pressured to sell. "According to on-chain data, some of them seem to be selling frantically, and exiting at the bottom," he said.