Copy link
Increase text size
Decrease text size
Link copied

Bitcoin investors buy the dip as BTC falls below $40K

Some crypto investors are taking advantage of the price drop and are buying Bitcoin’s latest dip while others are waiting for the crypto’s price to consolidate.

Photo by makingmilly of Pixabay

Tue, 11 Jan 2022, 08:49 am UTC

Bitcoin’s price, which has been in a downward trajectory since 2022 started, fell below $40,000 on Monday. Despite the decline, many investors bought the dip as they continue to stand by the crypto’s long-term potential.

Bitcoin fell to as low as $39,816.94 during Monday’s trading based on CoinMarketCap data, its lowest since August 2021. At that point, BTC’s price is down around 40 percent from its all-time near $69,000 set in November last year.

Markets suffered as investors expect the Federal Reserve to more aggressively due to rising inflation pressures, according to Kitco.com. Many anticipate that tighter U.S. monetary policy drying up liquidity and are unloading some of their volatile investments.

“Bitcoin and Ethereum got knocked down early as Treasury yields surged as expectations remain strong that inflation will not ease anytime soon, prompting the Fed to deliver more than a few rate hikes this year,” OANDA senior market analyst Edward Moya said.

Some crypto investors are taking advantage of the price drop and are buying Bitcoin’s latest dip while others are waiting for the crypto’s price to consolidate. While BTC has declined since the year started, many are still optimistic about the crypto’s long-term potential. “Short-term volatility will remain elevated for Bitcoin and Ethereum, but for long-term hodlers, the outlook still looks bright,” Moya added.

Meanwhile, Bloomberg Intelligence senior commodity strategist Mike McGlone acknowledged that BTC could slide further and might test the $30,000 support. However, he also opined that this scenario is unlikely to happen and that the crypto’s price is likely to recover and rise higher.

“A risk-off swoon like that of 2020 may put those key supports in play but is unlikely,” he said. “What's more probable, we think, is Bitcoin heading toward $100,000 and Ethereum breaching $5,000 resistance. A key issue we see is the Federal Reserve, as it faces the greatest inflation in four decades, more inclined to raise interest rates if risk assets continue climbing," he said. "We see the Bloomberg Galaxy Crypto Index marching higher in 2022, but among the riskiest of assets, cryptos must manage Federal Reserve tightening.”

Indeed, Bitcoin managed to recover quickly from Monday’s drop. At the time of writing, BTC traded at $42,160.87 based on CoinMarketCap data.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • BrittanyD
  • 2022.01.25 16:27:31
GET RICH WITH BLANK ATM CARD ... Whatsapp: +18033921735

I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich.( [email protected] ) I email them also and they sent me the blank atm card. I have use it to get 250,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.

You can also contact them for the service below

* Western Union/MoneyGram Transfer Hack

* Bank Transfer Hack

* PayPal / Skrill Transfer Hack

* Crypto Mining Hack

* CashApp Transfer Hack

Email: [email protected] OR [email protected]

Text & Call or WhatsApp: +18033921735

Visit: https://darkwebcycberhackers.com/
  • 0
  • ·
  • 0
  • Joanchris333
  • 2022.01.20 15:53:55
I was depressed some Months ago due to how frustrating it is dealing with bad credits, but reaching out to HACK VANISH via Phone: +1 (747) 293-8514 and Email: HACK VANISH (@) GMAIL. COM gave my life a new meaning, after I found him credible through positive reviews I read on a credit blog, in a twinkle of an eye, this great hacker got my credit score restored from 509 to 784 across the 3 major credit bureaus, all evictions and repossession has been wiped off, my LexisNexis and Chex system fixed respectively, to my greatest surprise, some days later, I received an E-mail confirming the approval of my pending loan application. I can confidently say 2021 was an exceptional year for my husband and I as we are proud owners of a new home and a brand-new SUV courtesy HACK VANISH, I would definitely recommend him to anyone in need of a genuine Hacker.
  • 0
  • ·
  • 0
More
  • Bitcoin (btc) $36,896.00 (+1.93%)
  • Ethereum (eth) $2,396.95 (-0.72%)
  • Tether (usdt) $0.998548 (+0.05%)
  • Binance Coin (bnb) $385.25 (+4.43%)
  • USD Coin (usdc) $1.00 (+0.48%)
  • Bitcoin (btc) $36,896.00 (+1.93%)
Jul 15, 2021 (Thursday)
13:30
BTC Surges by 1.16% Within 5 Mins, Marking 31,824.01 USDT
12:06
BTC Surges by 1.12% Within 5 Mins, Marking 32,104.8 USDT
10:25
BTC Drops by 1.03% Within 5 Mins, Marking 32,171.88 USDT
02:13
TriumphX Scouts 'MINAMCOMPANY' CEO Woo-Seong Lee As Creative Director
02:00
ETH Tops List Of Crypto Net Inflow With $298.96 Mln In Past 10 Hours
Jul 14, 2021 (Wednesday)
13:14
BTC Surges by 1.03% Within 5 Mins, Marking 32,738.08 USDT
09:03
BTC Surges by 1.01% Within 5 Mins, Marking 31,899 USDT
02:30
Crypto Market Sentiment On Jul 14: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $224.97 Mln In Past 10 Hours
Jul 13, 2021 (Tuesday)
02:30
Crypto Market Sentiment On Jul 13: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $178.61 Mln In Past 10 Hours
Jul 12, 2021 (Monday)
02:30
Crypto Market Sentiment On Jul 12: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Inflow With $164.82 Mln In Past 10 Hours
Jul 11, 2021 (Sunday)
21:31
BTC Surges by 1.02% Within 5 Mins, Marking 34,475.6 USDT
10:00
ETH Tops List Of Crypto Net Inflow With $122.76 Mln In Past 18 Hours
06:17
SOBA Listed On LATOKEN
02:30
Crypto Market Sentiment On Jul 11: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $87.56 Mln In Past 10 Hours
Jul 9, 2021 (Friday)
21:40
BTC Surges by 1.08% Within 5 Mins, Marking 33,911.8 USDT
02:30
Crypto Market Sentiment On Jul 09: Market In "Extreme Fear"
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft