Bitcoin May be Close to a Bottom

Bitcoin May be Close to a Bottom

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Hi Crypto Academy Network, The selling picked up momentum after the US Bureau of Labor Statistics reported on June 10 that the consumer price index soared 8.6% for the 12 months ending May, the largest annual increase since December 1981. The sell-off in the equity markets continued on June 13 and the S&P 500 fell into the bear market territory. After the fall in Bitcoin, MicroStrategy’s stash of 129,219 Bitcoins purchased at $3.97 billion is valued at $2.82 billion and Tesla’s Bitcoin holding acquired at $1.5 billion is valued at $945 million, according to Bitcoin Treasuries. Talks of MicroStrategy facing margin calls below $21,000 have been doing rounds but the firm’s CEO Michael Saylor previously said that Bitcoin will have to drop below $3,500 before it becomes a problem. We had suggested in our previous analysis that if Bitcoin plummets below $25,338, it could drop to $20,000. That is what happened and Bitcoin dropped to $20,816.40 on June 14. The bulls are expected to defend the $20,000 support with all their might. KEY TRADING LEVELS ETH TRADE XRP TRADE BTC TRADE Top Content This Week! Ethereum Price Enters 'Oversold Ripple General Counsel Tells SEC Ethereum Flash Crash Sends Price Top Article This Week! Appzaloot: An Innovative Social Globiance- The World’s First NFT/SFT Staking and The Age of Zalmoxis Earnings Disclaimer The information you’ll find in this email is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgment and perform due diligence before using the information in this email. Your success is still up to you. Nothing in this email is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. We also recommend that you check all UK laws to make sure you are in compliance when you create your online business. If you break the city or other local laws, we will not be held liable for any damages you incur

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