Bitcoin price action in key areas is back in contention

Hello friends of @LeoFinance, the growing interest of the main economic powers in the world to create regulatory and control mechanisms for cryptocurrencies, coupled with the lack of knowledge that exists in modern society of what this market really presents, are in my opinion the two reasons why the cryptocurrency market does not end up consolidating.

The cryptocurrency market has yet to consolidate, and over the past 9 months the price action of the major cryptocurrencies by market capitalization has been down, with lack of momentum in key areas making it impossible for Bitcoin to continue the sustained growth it showed in 2021.

In the last 24 hours, the Bitcoin presented a new plunge to the $18,000 area, now this setback as dangerous as it may seem, is similar to several it has had in previous weeks, but for our fortune has always managed to recover and return to the area of $20,000.

In this sense, and considering these typical pullbacks to the $18,000 area, and that the subsequent rebounds are not accompanied with strength, these are actions that can be interpreted as a weakness that could potentially give continuity to this bearish stage.

It is worth mentioning, that with this recent fall of Bitcoin to $18,000, our HIVE currency which during the last 7 days rose more than 60% was also affected by dropping to the $0.50 per unit zone.

Given this situation, the following question arises; what will be the next moves of Bitcoin and Hive?

SOURCES CONSULTED

Cointelegraph Bitcoin price drops 3% to ten-day lows as Ethereum inches closer to $1K. Link

OBSERVATION:

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