Baxia Markets
July 09, 2021

Bitcoin might not see price return soon

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Bitcoin in the past months has been trading around half of its April peak price of nearly $65000. CEO and founder of Delta Exchange Pankaj Balani thinks Bitcoin would be hovering around the $30000-$42000 level for the foreseeable future before anything big happens. "We expect it to spend the next few weeks testing this range on either side," he said. "Though we have seen an upward bias in the last few days it will take some work for BTC to break above the $42,000 mark."




The price dip has affected crypto-related stocks as well. As of Thursday, Coinbase, Riot Blockchain and Marathon Digital stock prices have tanked around 7$ respectively. Whether or not this is the aftershock of China and the world’s regulatory crackdown on Bitcoin is still unknown. Most recently, Senator Elizabeth Warren warned of the growing risks the "highly opaque and volatile" cryptocurrency market pose.


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