Bitcoin update price BTC and crypto drops again due to

Bitcoin lunch: price BTC & crypto is falling. Bottom, records + key price

By now it is lunch time again. We take a look at the live Bitcoin price and the prices of the top 25 crypto that are falling fast. Then we ask whether there is already a view of a price bottom and look at 2 records. Finally, we analyze Bitcoin key prices in the short term.

We start of course with the live Bitcoin price and the prices of the top 25 crypto.

Live Bitcoin price and prices top 25 crypto are falling fast

At the time of writing, the live Bitcoin price is quoting EUR 19,330.17 ($19,689.58). This is 4.35% lower than during our Bitcoin lunch yesterday.

The prices of most of the coins in the top 25 crypto are also falling rapidly. Besides the stable coins, only Polygon (MATIC) records a positive result with +1.64%. The biggest loss is currently -9,97% for Uniswap (UNI). On the site of you can analyze all live crypto prices.

Is the Bitcoin bottom price in sight?

Now that the BTC has dipped below $20,000 again, investors are worried. Will there be a price drop towards $10,000.00 or is the bottom in sight?

Trader and crypto teacher Steve is the one to watch for some relatively good news. He foresees a so-called Pi Cycle cross. We only saw this rare phenomenon in 2015 and 2018. Both times this point signaled exactly the end of the bear-rally.

In doing so, we also see that the 100-day moving average crosses through the 200-day moving average. This too is historically a marker for a BTC bottom price.

You can watch his entire analysis, in which he shares even more indicators in this video analysis.

As Steve himself points out, his forecast is against the market. Once again, despite his experience, the past is no guarantee for the future. Nevertheless, even outside of Steve’s analyses, there are more positive signs to be discovered in the market.

BTC sets 2 records despite new price drops

For example, analyses show that the capacity of the Lightning Network has risen to record levels. This is beneficial because it means that the network can handle more and more transactions per terra-second. This is good for scalability. Indeed, scalability is important to maintain a fast and reliable network as the number of transactions increases.

The number of Bitcoin wallets created also reached a historic mark. Indeed, the number of BTC wallets rose above $1 billion.

Twitter won’t load because you didn’t give permission.

📈 #Bitcoin $BTC Total Number of Addresses Ever Created just went above 1,000,000,000.

Current value: 1,000,002,559

View metric:

– glassnode alerts (@glassnodealerts) July 12, 2022

We also see that interest in Altcoins is decreasing while interest in BTC is increasing.

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📢 The ratio of discussions related to #Bitcoin vs. all #crypto topics has risen swiftly on social media. $BTC’s social dominance is now at its highest point since June, 2021. Historically, focus coming back to $BTC is a good sign for #crypto #bulls.

– Santiment (@santimentfeed) July 11, 2022

Based on historical analysis, rising Bitcoin is a bullish signal.

This is the Bitcoin price key price in the short term

Little of the bullish sentiment is evident in the price after yesterday’s price drop. Bitcoin is now in a consolidation zone bounded on the upside by two resistances at $20,300 and $20,900.

On the downside, the extreme limit is at $19,150. As long as the Bitcoin price remains between these limits analysts expect a consolidating market. If the price breaks out negatively, a price drop is foreseeable in the long-standing bearish pattern that could bring the BTC price back around $17,000.

In case of a positive breakout, eyes are first on the 200-week moving average ($22,500.00), after which a further growth to $25,000.00 is possible.

So it will be a volatile period, where it is good to focus on making money in an uncertain BTC market.

We will of course continue to follow the developments.

Want to stay up to date on 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.”

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