Coin Edition -
- BTC is currently trading hands at $22,401.71 after a 0.07% increase in price.
- According to Michael van de Poppe, BTC’s price has been boring since its correction.
- If the BTC price drops below $21.5K, it could spell trouble.
After more than a 6% drop in price at the start of March, Bitcoin (BTC) is again trading in the green, although not by much. According to the crypto market tracking website, CoinMarketCap, BTC is currently trading hands at $22,401.71 after a 0.07% increase in price over the last 24 hours. The crypto market leader was also able to reach a high of $22,497.00 and a low of $22,331.31 over the same time period.
Bitcoin / Tether US 1D (Source: TradingView)
It also strengthened against its biggest competitor in the market, Ethereum (ETH) by about 0.54% over the last day. On the other hand, BTC is still down by more than 4% in the previous seven days. In addition to this, BTC was also in the red by more than $4 last month.
BTC’s 24-hour trading volume is in the green zone, however, it currently stands at $13,889,022,607 after a more than 6% increase since yesterday. In terms of market cap, BTC stands at $432,439,033,180.
The well-known crypto trader, investor, and analyst, Michael van de Poppe, took to Twitter earlier this morning to share his own thoughts and insights about BTC’s performance over the past weekend. According to van de Poppe, BTC’s price has been rather boring since its correction.
Boring price action on #Bitcoin since the correction, but still acting in support here.Indices bounced already and seem to continue to do so. Might have another sweep of the lows and then reverse up, losing $21.5K = trouble time. pic.twitter.com/6GyzaiqZ3U— Michaël van de Poppe (@CryptoMichNL) March 6, 2023
The analyst also added that he believes the crypto king will make another sweep of the lows and then “reverse up” again. However, he did say that if the BTC price drops below $21.5K, it could spell trouble.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
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