What is happening to the price of bitcoin and cryptocurrencies?

The first year 2022 appears to be in the red. At the time of writing, the bitcoin price is $35,429. Some are afraid, others remain calm. But what happens?

Alexis Texeiro, Corporate Analyst at Global Markets and Data Analyst at Bit2Me, noted via LinkedIn:

“We had a great reset after the bear surrender in November 2018. We had a great reset after the Covid crack in March 2020. We had a great reset after the China Fud in May 2021. And now we will have a great reset after January 2022 . Every time we fell, we’ve bounced back, and now we’ll come back stronger than ever, too.

On the other hand, Albert Salvany, Strategic Advisor at Bleboba CryptoFund, also on LinkedIn, spoke about the psychological dimension of the market:

“The market is losing the psychological level of 50% from its historical maximum”.

What is happening to the price of bitcoin and cryptocurrencies?
What is happening to the price of bitcoin and cryptocurrencies?

Then he added:

“Statistically we have an extreme level of overselling”

And it showed the following picture:

Bitpanda, its country manager in Spain, recently shared an analysis in Spanish with Cointelegraph, noting that the cryptocurrency market is moving down but showing signs of bottoming out

According to Zala, the cryptocurrency market continues to struggle, trading at low levels for the third straight month.

“The monthly chart is showing signs that prices have bottomed, while the intraday charts remain volatile,” Zala commented.

(Disclaimer: This material is intended as commentary on economic or market conditions and does not constitute financial analysis or advice. The analysis presented here is that of the individuals who have provided opinions and does not constitute a recommendation for Cointelegraph investments under any circumstances. Everyone , should conduct its own research before investing and is responsible for its own decisions).

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