Entering text into the input field will update the search result below

Bitcoin back below $20K, while Coinbase, MicroStrategy, other crypto stocks bounce

Jul. 05, 2022 10:49 AM ETBitcoin USD (BTC-USD), ETH-USD, COIN, RIOTMSTR, SICP, BITF, BITF:CABy: Max Gottlich, SA News Editor15 Comments

Bitcoin Concept With Binary Codes

Eoneren/E+ via Getty Images

Bitcoin (BTC-USD) on Tuesday is slipping back under its $20K key level in a backdrop of a broader market downturn and mounting recession fears. Still, crypto-focused stocks are seeing some buying pressure.

The largest digital

Recommended For You

Comments (15)

Have a tip? Submit confidentially to our News team. Found a factual error? Report here.

Code Talker Market Analysis profile picture
Nobody will have any money to throw at a purely speculative token now that liquidity is being removed from the markets.

Bitcoin to under $10k this year.
Code Talker Market Analysis profile picture
My AT&T stock measures my ownership of a working company. That company is real and sells real things.

But Bitcoin does not represent any such thing.

Going under $10k this year.
sheerace profile picture
@Code Talker Market Analysis
.. I was completely skeptical of Bcoin myself..for many years….I studied the architecture, the utility, the security, the transparency…..I donot have an opinion on the equilibrium price….or even think it matters….however, I do hold the opinion that it is the best method of exchange ever devised by mankind…it’s value is utility, just like ur phone company
Code Talker Market Analysis profile picture
@sheerace I have written blockchains.

Bitcoin is terrible from an energy perspective and not sustainable from a climate perspective. It is not feasible for transactions because of the inherent price fluctuations it is susceptible to. No serious-minded group of people would want to trade widgets for it because it is vulnerable to manipulation.

Gonna see it go back down to $10k or below before price stabilizes.
sheerace profile picture
@Code Talker Market Analysis instead of spreading hype, I might suggest enlightenment
Dividend Seeker profile picture
Without stimulus checks, "free" rent, and "cancelled" debt, the consumer is toast.
dpeterson5620 profile picture
@Dividend Seeker With the kind of inflation we are seeing now, the consumer is toast anyway.
Investor Dude profile picture
@Dividend Seeker exactly. But contrary to fiat which is debt, bitcoin is money.
Code Talker Market Analysis profile picture
@Investor Dude No, bitcoin is a speculative token.

Money does not fluctuate this much in value.
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.