Meanwhile, it’s time again to look at the live Bitcoin price and the prices of the top 25 crypto. We also see bad BTC news and technical analysis pointing to price decline. This raises the question of where the bottom of the Bitcoin price may be.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price and prices top 25 crypto drop
At the time of writing, the live Bitcoin price is quoting EUR 19,002.68 ($20,052.54). This is 4.86% lower than during our Bitcoin lunch yesterday.
The prices of the top 25 crypto are also falling rapidly. Apart from the stable coins, we only see red numbers. The biggest drop is currently for Solana (SOL), which is losing 9.24%. With this, we can estimate the further course of the price on the basis of yesterday’s price analysis. On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day.
Bad news for Bitcoin: these investors are getting out
Meanwhile, we see that the crypto crisis is also having a negative impact on two categories of major BTC investors. We are seeing institutional investors getting out of crypto investments. For example, Canadian investment fund Cypherpunk Holdings announced it had sold all of its crypto investments in favor of its cash position. This meant that 205 ETC and 214.7 BTC came on the market. The CEO prefers to wait until volatility is more stable and the lack of liquidity is over before considering a return.
BTC miners are also starting to sell more Bitcoin again. They are caught between higher energy prices and lower profits. With hash rates and BTC difficulty also dropping, they fear for their profitability.
Technical analyses point to further drop in Bitcoin price
These fundamental factors are obviously not favorable as they create more supply and the exit of institutional investors also hurts the confidence of retail investors. On top of that, technical analyses are also again leaning strongly towards a further bear correction.
Thus we see analyses pointing to a ‘final washout’.
Also based on the Elliott Wave (which you can see below) analysis, we see that there is a high probability of a bearish scenario.
With this negative outlook, the question naturally arises as to where the BTC bottom may be.
BTC price bottom is uncertain
Some analysts are convinced that we are near the bottom of the market. There are also historical statistics that explain this. Yet there are factors that indicate we are not there yet. Most analysts hold the view we gave yesterday. That would put the bottom between $13,000.00 and $14,000.00. Other analysts are much more negative. For example, Robert Kiyosaki thinks that the price could even fall to $1,100.00.
Whether he is right is doubtful, but the fact is that the market is still very uncertain. Therefore, if you want to invest, it is wise to focus on making money in uncertain conditions.
Want to stay up to date with the latest stock price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”