Bitcoin at Two-year Low: Bitcoin Price Prediction

The price of bitcoin hit a two-year low of $15,588 amid the current crisis. – Amid the recent price correction, the bulls again found a higher price rejection at the 20 hourly SMA.

– The market cap is green 3.6% in the last 24 hours and is $333.5 billion. The crypto market’s king, Bitcoin, has been steadily declining in recent days as a result of the FTX crisis

BTC has dropped to a two-year low of $15,500, resulting in the market with a $200 billion damage. This price drop has impacted market position, with several altcoins dropping more than 20% this week.

This unexpected drop was initiated by a buyer rally. Bitcoin fell to $17,000 within hours of reaching a multi-week high above $21,500. Bitcoin dropped again yesterday as the crisis worsened

Finally, bitcoin dropped to $15,500, its lowest point since November 2020. Buyers currently regard the 2022 low as an immediate support level.