Bitcoin is looking to sustain a $20k price point and avoid another weekend slump. JimmyHe32 reports
The largest cryptocurrency by market capitalization was recently trading at $21,030, up 3% over the past 24 hours. However, this weekend could pose another test for the largest cryptocurrency by market capitalization, say analysts.
Last Friday, bitcoin closed at $20,441. But over the weekend, the cryptocurrency slumped to $17,601 as it faced major selling pressure. eToro crypto market analyst Simon Peters said that increasing recession risks and poor earnings could further affect stock prices, which have recently correlated with crypto prices. Negative trends in the traditional market could then be reflected in the crypto market.
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