Bitcoin BTC Bitcoinprice crypto Bitcoin holds support at $19,150 as global markets trade flat
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! Traditional financial markets experienced a similar story in trading on Wednesday as hotter-than-expected producer price inflation data and minutes from the Federal Reserve’s September meeting only served to deepen concerns that the Fed will continue its aggressive tightening policy.
“Bulls are disappointed that Bitcoin has not been more attractive as a safe-haven asset the past several weeks,” Wyckoff postulated, adding “bears can’t seem to press their case to the downside as prices grind sideways.” One possible scenario of what a pullback could look like was provided by il Capo of Crypto, who noticed a striking similarity between Bitcoin's currency price action and the price action it saw back in 2018, just before the bottom fell out of the market.— il Capo Of Crypto October 12, 2022 Should such a scenario play out, BTC could dip as low as $14,000 before it manages to regain its footing and head higher.
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