Bitcoin Drops to $19.7K as Recession Concerns Weigh on Financial Markets, Euro Nears Dollar Parity
https://www.coindesk.com/markets/202...dollar-parity/
Bitcoin dropped through a major support level Tuesday, falling below $19,700 amid a sell-off in broader markets that saw equity indexes decline and the euro approach parity with the U.S. dollar.
Price-charts show bitcoin saw rejection at last week’s $21,800 level. It experienced some support at $20,500 over the weekend and dropped to the $19,700 mark in early Asian hours today. A brief bump up to almost $20,000 was followed a return to the lower level in the European morning.
Bitcoin could drop to as low as $18,700, a level it reached earlier this month, technical analysis shows. A recovery from current levels, on the other hand, could see bitcoin climbing as high as the $21,300 zone in coming weeks.