Bitcoin will return after falling below $ 33,000

Bitcoin rallied on Monday afternoon, trading above $ 37,000, after falling seven-month low in the morning, as cryptocurrency moved into lockstep with a rapid rally in risky assets.

According to CoinDesk, Bitcoin has recently risen 4.3% to $ 36,920. It traded for less than $ 33,000 for the first time since July morning. This extended the loss of sales by more than 50% from the November 10 high of $ 68,990.90.

The drop should not be too surprising for crypto fans. For the eighth time since Bitcoin was launched in 2009, it has fallen more than 50 percent, and for the third time since 2018, according to Compundent Capital Advisors Charlie Billelo. It dropped by 52 percent from April last year to July last year.

Crypto currencies have hit big assets, especially technology companies, and are flooding the market. According to analysts, the plan is to pull the US Federal Reserve and incentives out of the economy and increase interest rates. Technology-heavy Nasdaq stock index fell 12% since the beginning of the year.

“Crypto is a high-growth start-up industry that trades as a risk asset,” said Martha Reyes, head of research at Bequant, a European digital asset broker. This morning it is a spectacular and fully-fledged macro-area, sponsored by the Federation.

Retail investors also seem to be reluctant to invest in crypto, says Reyes. According to data from the blockchain data firm Glassnode, the volume of small transfers, proxy retailers, fell by more than 40% between the first and fourth quarters of last year.

This is because market demand is shifting to digital assets. Google searches for “NFT”, the acronym for invincible tokens has grown steadily over the past year and into 2022.

Some cryptocurrencies have dropped more than bitcoin. The second most popular digital currency, Ether, fell 52 percent from its last record in November. Solana Crypto, which gained popularity last year, fell 66% and Shiba Inu, another meme-based digital currency, fell 78%.

Those losses reduced the total value of the crypto market to $ 1.65 trillion, according to CoinMarketCap, down 44% from $ 2.97 trillion in November.

“It makes sense for me to hit hard on crypto. Everything has to do with risky values, ”said Joel Maxuger, a currency analyst at El Max Group. “Ether is almost like an index, the sum of the projects on the ethereum blockchain” such as games, NFTs, decentralized financial projects and smart contracts.

The measures are in stark contrast to the expectations of some investors and analysts. JPMorgan analysts say Bitcoin could reach $ 146,000 by October.

In recent times, traders have focused on a very close number: $ 30,000, which is more than just a big, round number. That level is the lowest point of sale from April-July 2021, and is also the case with Bitcoin opened in 2021.

A fall below will push bitcoin prices back to the 2020 level. This means that in the last 13 months you have bought the first bitcoin and the size of the crypto market has doubled, everyone will be red in the rush of new buyers.

“This is a key moment for bitcoin,” Owan analyst Edward Moya said. “If shock sales return on Wall Street, the $ 30,000 level may not be very supportive.”

The recent rise and fall of the Shiba Inu coin is one of the largest digital tokens in the world. KSTlin McKabe, a WSJ retail investment journalist, explains why investors are investing in this Mime-based encryption. Photo Dead Amber Bragdon / Getty Images

Write Anna Hirtenstein at

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