Bitcoin is predicted to fall to $ 22,000

According to analysts from Cointelegraph, the value of the flagship cryptocurrency may drop significantly in the coming weeks. The fact is that derivatives on BTC $56,416.10 Bitcoin -1.81% Market capitalization $1.11 trillion VOL. 24 hours $4.33 billion have begun to show bearish trends.

The bitcoin price chart leaves no doubt that investor sentiment has not become more positive after Grayscale’s victory against the SEC, experts said. Cointelegraph representatives are convinced that the price of BTC may drop to $ 22,000 in the coming weeks.

«Currently, market participants are in limbo and do not understand what to expect. By August 18 of this year, the 19% growth of the BTC rate, which occurred after the application for an ETF from BlackRock, had completely stopped. Then, the price of BTC returned to $ 26,000,» analysts emphasized.

Many experts also attribute the market’s problems to the actions of US regulators against Binance and Coinbase. Numerous sources claim that the U.S. Department of Justice (DOJ) is initiating a criminal investigation into Binance. Claims are that it facilitated money laundering and potentially violated sanctions against Russian companies.

According to artificial intelligence, PricePredictions, BTC will be trading for $ 26,228 at the end of the month. The forecast represents a slight increase in the token’s value compared to the current price of $ 25,682. From the technical analysis point of view, bitcoin’s struggle to break out of the weekly support is of particular concern, a trend that TrendSpider analysts have identified that points to a future market downturn.