BTC and crypto price is falling. Results, cause and expectation

As usual, around lunch time, we take a look at the live Bitcoin price and the prices of the top 25 crypto currencies. We also review the results of last week and last month. We then discuss the causes of the price drop, the bullish signs, and the short-term forecast for the price of Bitcoin.

Of course, we will start with the live Bitcoin price and the prices of the top 25 crypto currencies.

Bitcoin price live and top 25 cryptocurrency prices drop

At the time of writing, the live Bitcoin price is EUR35,687.39 ($38,504.24). This is 2.93% lower than yesterday and about 4.7% lower than during our Bitcoin lunch on Friday.

The prices of the top 25 cryptocurrencies are also negative. Apart from some stable coins, we only see red numbers. The biggest loss of the day so far in the top 25 cryptocurrencies is -9.79% for Near Protocol (NEAR).

BTC prices and the top 25 cryptocurrencies continue to fall

Of course, the negative prices of the moment affect the weekly and monthly results of Bitcoin and other top 25 cryptocurrencies.

If we look at the weekly results, we see a large positive outlier next to the stablecoins. This one is for Terra (LUNA) with +14.83%. The biggest loss of the week was for Ripple (XRP) with -13.09%. Bitcoin is in the middle at -3.04%.

In the monthly results, the great positive exception is Near Protocol (NEAR), which achieved a return of +13.08% in 30 days. The biggest loss during this period was for Cosmos Hub (ATOM) at -25.26%. Here too we find Bitcoin in the middle with -13.09%.

Of course, you can analyze all the results and prices of cryptocurrencies live 24 hours a day on the Tradeincrypto.com website.

Bitcoin and cryptocurrencies fall due to forecast of Ukraine and the FED

The question, of course, is why cryptocurrency prices continue to fall despite all the bullish signs. As Russia expands its offensive in Ukraine, this is causing unrest among investors.

The Fed also said that it expects to implement a rate hike at the next Fed meeting (scheduled for the first week of May). These factors make investors suspicious and look for safer investments. As a result, it failed to break the $42,000 resistance, after which profit-taking caused further price declines.

Are BTC and the crypto market immune to bullish signals?

With that, the market continues to ignore the many bullish signals based on technical and fundamental factors. For example, investment firm Skybridge announced that it has such faith in crypto that it is shifting its focus to crypto projects. As part of this, he wants to convert some of his holdings to Bitcoin.

Additionally, the Central African Republic is working on crypto adoption through new regulations. It also wants, following El Salvador, to accept BTC as legal tender to boost the economy.

While this news led to significant bullish price movements in MicroStrategy and El Salvador, prices are now not detectably reacting to this news and that is a growing concern.

What do we expect from the price of Bitcoin?

Last Friday, people were still convinced that Bitcoin would start a bull rally towards $50,000 or $52,000. That thought lives on according to Ichimoku Cloud analysis.

This is subject to the condition that the market maintains the bottom of the price. Based on various (historical) analyses, this ranges from $39,000 to $37,600.

This seems to work as long as large investors buy less than $40,000 because they believe they are buying a market downturn. If this lower limit is not there, we have to prepare for a further price drop. This could push the price of Bitcoin below $30,000 and, according to some analysts, even below $20,000.

Now that the market is consolidating, these are certainly key prices to watch. Also, it is advisable to continue trading rationally and bet on trading in an uncertain crypto market.

Do you want to invest but not in crypto for a while?

Of course, it’s always good to include different types of investments in your portfolio. You may also be curious about the expected return on other investments due to the bearish development. If you’d like to inquire about this, we’d be happy to help you with a weekly price forecast of the top investments. You can read the price forecast for next week at MANNERS.nl.

Want to stay informed of the latest price changes?

You can always follow the developments yourself with our WANT crypto analyzes or feature articles and previews on the crypto market and Bitcoin. Of course, you can also follow live prices 24 hours a day if you want to stay informed in real time. Are you also interested in other investments besides cryptocurrencies? So our weekly price forecast on Monday morning may be some reading advice. †Note: We never provide financial advice, so you may not interpret our contributions in that way. Always do your own research and make rational decisions about if, when, what and how much you want to invest in.”

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Bitcoin lunch: the price of BTC and crypto is falling. Results, cause and expectation

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