Bitcoin price has shattered through the $17,578 to $21,710 range as it rallied 28% between July 13 to July 20. This move has also pushed past the $22,844 resistance level and is currently flipping it into a support barrier.
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Is crypto worth investing in 2022? Experts react
Crypto markets have disappointed investors and traders alike this year. Many crypto platforms came crashing down in 2022 while several top coin prices have touched new lows. Amid extreme volatility and rising inflation, it has become important for users to decide whether cryptos are worth investing in now or should retail investors look beyond cryptocurrencies. However, experts’ views differ on these questions.
Bitcoin Price and Bullish Technicals 2022
Bitcoin price has crashed 17% since April 4 and is currently bouncing off the 200 three-day Simple Moving Average (SMA) at $39,506. This downswing was a major bearish event as BTC dropped below the bullish crossover between the 50-day and 100-day SMAs.
Bitcoin Price Could Continue to Decline As on-chain Data Suggests BTC Bears Are in Charge
Bitcoin Price: Blockchain data suggests that the leading cryptocurrency may be in a sustained bear market as over 4.7 million Bitcoins are now held at an unrealized loss. Several bearish signals indicate that the bellwether cryptocurrency could continue to decline.
Crypto Is Like a ‘Ponzi’ Scheme, India’s Central Bank Warns
In a strong warning to Prime Minister Narendra Modi’s government, a top official at India’s central bank reiterated concerns over cryptocurrency trading, likening the virtual coins to Ponzi schemes.
Crypto Can’t Beat Gold as an Inflation Hedge, Neal Bhai
The world’s second-biggest gold miner is confident prices will hold firm this year, if not rise, as investors use the metal rather than cryptocurrencies to hedge against inflation and jewelry demand picks up.
India to Consider Allowing Crypto Trading for Some Investors
Crypto Trading India: India is considering a proposal to treat cryptocurrencies as a financial asset while safeguarding small investors, according to people familiar with the matter.