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Bitcoin Loses $21,000, Investors Expect A Rally Above $30,000


KEY POINTS

  • In the last 24 hours, BTC dropped more than 3.3%
  • Ethereum lost the $1,200 price region
  • The biggest losers include XRP, SOL and NEAR

The crypto market turned red Monday as Bitcoin (BTC), the world’s biggest cryptocurrency, lost the $21,000 price level after failing to break through the $22,000 price resistance. Almost every crypto has bled in the last 24 hours.

According to CoinMarketCap (CMC), the price of 1 BTC was $20,511 as of 12:35 a.m. ET, and was nearly 70.10% low from the all-time high of $69,000 witnessed on Nov. 10, 2021. In the last 24 hours, BTC dropped more than 3.3%. 

CoinMarketCap (CMC) has introduced a voting system where users can vote on Bitcoin’s future prices. Interestingly, 31,745 people voted on CMC that Bitcoin will be above $35,500 by the end of July, a surge of 73.31% from its current price.

The bullish view on Bitcoin is strengthening as confirmed by the data and analysis conducted by various platforms in the crypto space.

Some of these platforms include WalletInvestor, which predicts that BTC will end 2022 at an average price of $32,909. DigitalCoinPrice comes with a bearish prediction stating that BTC will end 2022 at an average price of $27,063.12. At last, the algorithm from BitcoinWisdom predicts that BTC will end 2022 at an average price of $28,690.13.

Ether lost the $1,200 price level after dropping 3.46% in the last 24 hours. As of 12:53 a.m. ET, the price of 1 Ether was $1,149.

These predictions take into account the sentiment in the market and data from various indicators and follow an algorithm.

Additionally, the least affected tokens in the market included Shiba Inu (SHIB), Uniswap (UNI), Tezos (XTZ), Cosmos (ATOM), Monero, and Aave (AAVE). The price changes in these tokens were -1.92%, -1.27%, +1.24%, -0.29%, +5.32% and -1.75%, respectively. The prices of these tokens were $0.00001104, $6.13, $1.61, $8.72, $129.86, and $76.88 as of 12:40 a.m. ET.

The biggest losers were Ripple (XRP), Solana (SOL), Stellar (XLM), and Near Protocol (NEAR) which dropped 4.77%, 4.68%, 5.12%, and 5.98%, respectively. The prices of these tokens were $0.3219, $35.63, $0.1057, and $3.47 as of 12:53 a.m. ET.

The crypto economy has been torn to shreds in recent weeks with hundreds of billions knocked off the value of the sector Photo: AFP / Justin TALLIS

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