May 20, 2022

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Bitcoin ‘Nothing But Gold’ Collapses, Last Boost Before $20,000

The Ukraine crisis was truly a coup against Bitcoin and various cryptocurrencies that now seem to be slipping unsupported for months.

Russia is invading Ukraine, and cryptocurrency has certainly disappointed investors by not acting as a safe haven asset, but In fact, they suffer more than the bags themselves from the nervousness of the moment. It is an open war and it is clear that those who were hoping to find a safe haven in cryptocurrencies have been disappointed once again.

But already with the chaos of Evergrande the fact that cryptocurrencies are unfortunately very sensitive to the stress of the moment has been highlighted. Bitcoin is frantically trying to get back to $36,000, but the November 2021 highs look a long way off. Obviously, for investors, the Hamiltonian doubt is always the same: take advantage of a bitcoin for sale or run away in fear of worse problems? The cryptocurrency trading community is quite divided.

Doubt is strong

After the glittering 2021 that saw Bitcoin steadily rise along with the rest of the cryptocurrency, the end of last year and the beginning of this year They represented a time of extreme weakness for virtual currencies. fear that Bitcoin Could Crash Below $30,000, Now It’s Very Concrete Now the $20,000 line is seen as a kind of crucial support line. The investors who jumped into cryptocurrencies at the end of last year, attracted by seemingly limitless price hikes, have been burned.

Unhooked from gold

But the most established investors in cryptocurrency are experiencing a moment of extreme skepticism. Weighs also the very strong disconnect between bitcoin and gold. In fact, over the past year, this perception of Bitcoin in some way tied to gold so strongly has spread In a kind of twinning between possible shelters For a moment of panic. But in the context of this dangerous international crisis, which no one might have anticipated, with such severity and severity, Gold and Bitcoin broke up dramatically.

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As Bitcoin continues to fall, gold is up. The crypto queen certainly still has a lot to say, and that’s obvious but in the current scenario, investors are understandably confused. Much will depend on the development of the ongoing international crisis because as long as the tension continues, the price of the cryptocurrency queen will not be able to regain momentum.