Bitcoin 3-day Chart Indicates March 2020 Crash Recurrence

Name	Symbol	Market	Market Cap ($)	Algorithm
Amp	AMPUSD	Crypto	399,069,641	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Amp

AMPUSD

Crypto

399,069,641

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00006	0.85%	0.00712	0.00712	0.00713

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00006

0.85%

0.00712

0.00713

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.00725	0.00695	0.00706	0.00706	0.001400 - 0.016850

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.00725

0.00695

0.00706

0.001400 - 0.016850

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	12:09:37	52.00	0.00714	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

12:09:37

52.00

0.00714

USD

Price x Volume	Volume	Base Symbol	Related Pairs
705,322.31	100,054,229.23	AMP	AMPEUR	AMPGBP	AMPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

705,322.31

100,054,229.23

Bitcoin 3-day Chart Indicates March 2020 Crash Recurrence

14/06/2022 3:00pm

NEWSBTC

According to Tradingview, the world’s most popular cryptocurrency, Bitcoin, hit a new low of $20,828 at the start of the week. Because of this new pricing, BTC lost 16.54% of its value in less than a day- almost $5,000 in value. Although being the largest and most famous cryptocurrency, Bitcoin is notorious for its huge climbs and equally dramatic declines. For example, BTC skyrocketed to an all-time high of over $69,000 in November 2021, then plummeted to just under $30,000 by the start of 2022. Related Reading | Bitcoin Long-Term Holders Realize March 2020-Like Losses As BTC Crashes Bitcoin’s value peaked above $30,000 on June 1, 2022, but dropped below that the next day. It is currently trading below $22,000. This decrease is linked to TerraUSD, a stablecoin, breaking its $1 peg and Luna subsequently falling. In addition, it reflects global financial uncertainty driven by increasing inflation as investors seek to sell “riskier assets” such as cryptocurrencies. The Bitcoin 3-Day Chart Indicates March 2020 Crash The 3-Day Bitcoin chart Indicates a recurrence of the March 2020 Crash, based on the present state of the BTC market. Bitcoin’s popularity as a safe-haven asset began to wane in March 2020. It had lost half of its value in only two days. After opening the week above $9,000, the cryptocurrency suddenly fell below $4,000 on March 13, 2020. However, as of the end of U.S. markets, it had returned to around $5,400. Bitcoin is currently trading below $22,000 on the daily chart | Source: BTC/USD chart from TradingView.com For the March 2020 crash, Joe DiPasquale, CEO of BitBull Capital, said that the global pandemic of the coronavirus caused investors to move their money into cash as a form of protection. He further added that Bitcoin’s potential as a safe-haven asset is being questioned due to this steep decrease. But feels it is too early to look for any links between Bitcoin and other asset classes. Reason Behind Bitcoin Plunging To New Lows One factor contributing to bitcoin’s new lows is the halting of all withdrawals, transfers, and swaps between accounts by Celsius. Celsius, a DeFi platform and one of the largest crypto lenders has been a significant cause of mistrust in the Bitcoin market. Related Reading | Rich Dad, Poor Dad Author Changes His Mind About Bitcoin? BTC Crashes To $23K The network announced they had paused withdrawals, swaps, and transfers between clients via Celsius. This announcement was made in the early hours of June 13, following Bitcoin’s slide below $24,000 and the whole crypto market losing about $250 billion in only seven days. As the company’s announcement stated: Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts. We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations. Featured image from Flickr and chart from TradingView.com

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AMPUSD Amp