Bitcoin 3-day Chart Indicates March 2020 Crash Recurrence

Bitcoin 3-day Chart Indicates March 2020 Crash Recurrence

According to Tradingview, the world’s most popular cryptocurrency, Bitcoin, hit a new low of $20,828 at the start of the week. Because of this new pricing, BTC lost 16.54% of its value in less than a day- almost $5,000 in value.


Although being the largest and most famous cryptocurrency, Bitcoin is notorious for its huge climbs and equally dramatic declines. For example, BTC skyrocketed to an all-time high of over $69,000 in November 2021, then plummeted to just under $30,000 by the start of 2022.


  Related Reading | Bitcoin Long-Term Holders Realize March 2020-Like Losses As BTC Crashes


Bitcoin’s value peaked above $30,000 on June 1, 2022, but dropped below that the next day. It is currently trading below $22,000. This decrease is linked to TerraUSD, a stablecoin, breaking its $1 peg and Luna subsequently falling.


In addition, it reflects global financial uncertainty driven by increasing inflation as investors seek to sell “riskier assets” such as cryptocurrencies.


The Bitcoin 3-Day Chart Indicates March 2020 Crash

The 3-Day Bitcoin chart Indicates a recurrence of the March 2020 Crash, based on t ..

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