{"id":16057,"date":"2023-01-13T22:52:50","date_gmt":"2023-01-14T02:52:50","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=16057"},"modified":"2023-01-13T22:52:50","modified_gmt":"2023-01-14T02:52:50","slug":"bitcoin-price-touches-20000-for-first-time-post-ftx-collapse","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/13\/bitcoin-price-touches-20000-for-first-time-post-ftx-collapse\/","title":{"rendered":"Bitcoin Price Touches $20,000 For First Time Post-FTX Collapse"},"content":{"rendered":"<p><a href=\"https:\/\/newsbtc.com\/news\/bitcoin\/bitcoin-price-prediction-elliott-wave-theory-btc\/\">Bitcoin price<\/a>\u00a0has tapped $20,000 for the first time since the FTX. Not only was the level important support that broke down during the contagion, but it was also the former 2017 all-time high.<\/p>\n<p>Here\u2019s what the recent price move could mean for the cryptocurrency market.<\/p>\n<h2>Bitcoin Reaches Key Level And 2017 ATH<\/h2>\n<p>At approximately 6PM ET, Bitcoin price touched $20,000. Losing the level put stress on long-term holders by sending the price per coin tumbling to $15,800 and far below the former 2017 bull market peak.<\/p>\n<p>After being rejected in 2017, cryptocurrencies fell into a long bear market. It wasn\u2019t until December 2020 when Bitcoin once again made it above the critical level. And when it did, it blasted right through it to $60,000.<\/p>\n<p>Once Bitcoin has reclaimed the level, what happens next?<\/p>\n\n<h2>BTCUSD Levels To Watch For Next\u00a0<\/h2>\n<p>Considering how bearish the sentiment was throughout 2022, crypto holders aren\u2019t yet ready to FOMO into Bitcoin simply due to a break of $20,000. The top cryptocurrency may need to rally higher before the crowd begins to pile in.<\/p>\n<p>Bitcoin above $28,000 could be a sign of a more sustainable recovery. Meanwhile, rejection at $20,000 again could be catastrophic for the crypto market and cause BTC to try for new lows.<\/p>","protected":false},"excerpt":{"rendered":"<p><!-- wp:html --><\/p>\n<p><a href=\"https:\/\/newsbtc.com\/news\/bitcoin\/bitcoin-price-prediction-elliott-wave-theory-btc\/\">Bitcoin price<\/a>\u00a0has tapped $20,000 for the first time since the FTX. Not only was the level important support that broke down during the contagion, but it was also the former 2017 all-time high.<\/p>\n<p>Here\u2019s what the recent price move could mean for the cryptocurrency market.<\/p>\n<h2>Bitcoin Reaches Key Level And 2017 ATH<\/h2>\n<p>At approximately 6PM ET, Bitcoin price touched $20,000. Losing the level put stress on long-term holders by sending the price per coin tumbling to $15,800 and far below the former 2017 bull market peak.<\/p>\n<p>After being rejected in 2017, cryptocurrencies fell into a long bear market. It wasn\u2019t until December 2020 when Bitcoin once again made it above the critical level. And when it did, it blasted right through it to $60,000.<\/p>\n<p>Once Bitcoin has reclaimed the level, what happens next?<\/p>\n<h2>BTCUSD Levels To Watch For Next\u00a0<\/h2>\n<p>Considering how bearish the sentiment was throughout 2022, crypto holders aren\u2019t yet ready to FOMO into Bitcoin simply due to a break of $20,000. The top cryptocurrency may need to rally higher before the crowd begins to pile in.<\/p>\n<p>Bitcoin above $28,000 could be a sign of a more sustainable recovery. Meanwhile, rejection at $20,000 again could be catastrophic for the crypto market and cause BTC to try for new lows.<\/p>\n<p><!-- \/wp:html --><\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-16057","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/16057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=16057"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/16057\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=16057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=16057"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=16057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}