Baxia Markets
By
July 09, 2021

Bitcoin might not see price return soon

fundamental analysis top header -01

 

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.

 

We love to hear new ideas from traders and want to know what you think! 

 

If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.

 

Open Live Account  

 

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 

 

Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit. 

Subscribe by Email