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Bitcoin is struggling to sustain the $20,000 mark

 


Bitcoin has been fighting to maintain the $ 20,000 mark since Wednesday night.

It dipped below $20,000 several times throughout the night, but was always able to recover briefly. It is currently fluctuating between 19,000 and 20,000 US dollars (as of 7:52 a.m.).

The market capitalization is around 380 billion US dollars.

In the past few weeks, digital gold has fallen below the important $20,000 mark several times.

The reasons for the current downturn are manifold: war in Ukraine, inflation, interest rate hike, energy crisis, waves of bankruptcies in cryptospace.

Over the past week, some institutional investors have rushed to liquidate their positions in Bitcoin , particularly in Canada.

In the downturn, Bitcoin's biggest owner Michael Saylor struck again: for $10 million.

The $20,000 mark is considered important critical support. A current market analysis can be found here .

Overall, Bitcoin fell 70 percent from its all-time high in October 2021.

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