BTC needs to stick to this price level for Bitcoin price to ease investor jitters

Bitcoin (BTC) plummeted following the collapse of FTX and rising cryptocurrency volatility. No one knows when the most popular cryptocurrencies will return to their most stable state.

In all fairness, the world’s most popular cryptocurrency has improved a bit, reaching the $16,700 level, but still not enough to assuage the worries of many investors.

Here’s an overview of Bitcoin’s recent performance:

• BTC’s Recent Price Crash Marks A Plunge Of More Than 28%
• BTC bounces back from 2-year low with 2% surge
• Bitcoin’s Recent Price Crash Was Manipulated By Tremendous Cryptocurrency Volatility And FTX Crash

The Recent BTC Price Crash Was The Lowest Ever This Year

Bitcoin is believed to have fallen to $15,548, its lowest level since November 2020.His recent price crash marks a more than 28% plunge from the Nov. 5 low of $21,417, and comes long before the collapse of FTX.

According to Matthew Hyland:

“Bitcoin turned red almost a year ago on December 3, 2021, so it has spent the past year in this red supertrend. It basically covered over 90% of the bear market. I did. The only spot I missed is the area in November [2022], so the price to flip this to green is currently around $20.2k. ”

Additionally, Hyland says $20,201 is a target price that could help Bitcoin emerge from its disappointing bear market, the second longest bear market to date.

Image: Al Bawaba

Perhaps Bitcoin has shown a tendency to push the price down to flip to green every time it falls to a new low.

This is the 3-day MACD indicator shown this week and a week ago, showing bear market lows flipping the BTIC several times.

Bitcoin price rebound awaits

according to CNBCtThe crypto king has bounced back from the coin’s routine or expected support level following several lows.

based on coin market capitalization dataAs of this writing, the BTC price has increased by 2.29%, or $16,702.

Bitcoin is going through one of the longer bear markets than Bitcoin experienced in 2014.

Crypto total market cap at $798 billion on the daily chart | Featured image from: The Dodo, Chart: TradingView.com