Bitcoin lunch Price BTC and crypto is falling 3 reasons

Bitcoin update: price BTC and crypto drops. Bugatti, whales and alert

Again today we look at the live Bitcoin (BTC) price and the prices of the top 25 crypto. Then we analyze how bullish the BTC signals are in the long term and also look at the behavior of whales. Finally, analysts release a warning.

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

Live bitcoin (BTC) price and prices top 25 crypto drop

At the time of writing, the live Bitcoin (BTC) price is quoting EUR 23,093.98 ($23,510). This is 1% lower than during our Bitcoin update yesterday.

The prices of most crypto from the top 25 are also falling. The biggest loss is with -6.43% for Shiba Inu (SHIB). Besides the stable coins, there are also some crypto that are making profits. The biggest gain of the day so far is with +0.99% for Ethereum Classic (ETC). On the site of you can analyze all live crypto prices 24 hours a day.

Kraken CEO positive about Bitcoin price

The CEO of crypto exchange Kraken, Jesse Powell is still positive about the Bitcoin price in the long run despite the tough crypto winter. In an interview with Bloomberg TV, he shone his light on the crypto market. He did not address the rumors that Kraken is under investigation by US authorities for violating sanctions against Iran. However, he did let it be known that he thinks government interference in crypto goes too far. Of course, he also discusses the market and the expectations he has. You can watch the entire interview here.

So about the Bitcoin he is still positive. His expectation that by the end of the year we will be able to buy a Bugatti with 1 Bitcoin illustrates this. Since the cheapest new Bugatti (Bugatti Veyron) starts at $1.7 million, we assume he means a good replica. These are available for about EUR 25,000 and that sounds a lot more realistic.

BTC Whales get ready for bull rally

Now we don’t expect the Bitcoin (BTC) price to hit a million this year, but there are many bullish signs that a price rally is coming. As we keep seeing, at the moment it is simply a lack of buyers in the market that is keeping the Bitcoin (BTC) price from breaking through resistances.

Nevertheless, there are more and more investors who also believe in a bullish recovery. For example, Santiment’s statistics show that more and more BTC addresses are holding between 100 and 10,000 BTC, speculating on price increases.

Twitter is not loading because you did not give permission.

🐳 The amount of #Bitcoin addresses holding between 100 to 10,000 $BTC ($2.3m to $233m) has reached its largest quantity since June 11th. We look to this tier of large addresses as confidence from large active holders, and this increase is encouraging.

– Santiment (@santimentfeed) August 18, 2022

With that, investors do seem to have to reckon with longer-term increases.

Will we first experience a Bitcoin (BTC) price decline?

We already analyzed last night what caused the Bitcoin (BTC) price drop and that it may continue for some time.

According to analyst Kevin Svenson, who previously correctly predicted the crypto crash earlier this year, the market is currently dangerous.

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

“It’s an uptrend until it’s not”
📽 Video Explanation#Bitcoin #Ethereum #Crypto

– Kevin Svenson (@KevinSvenson_) August 17, 2022

As he mentions in his analysis, the $23,250 price is currently the make or break moment. As we can see, the live Bitcoin (BTC) price is currently right above that, but we also see that the price is consolidating. With that, the likelihood of a price drop is increasing. So it remains exciting.

Want to stay up to date on the latest 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.”

TechNewsX Loves Back Market

TechNewsX highly recommends Curry's for your tech needs. With an extensive range of cutting-edge products, friendly staff, and competitive prices, Curry's provides a top-notch shopping experience.
Explore Curry's and unveil their extensive selection.