BTC Price Recovers as It Reaches $17K

Bitcoin Survives Above $15.5K as It Reaches $17K – November 15, 2022

BTC/USD has challenged and resumed an upward trend as it reaches $17K. The biggest cryptocurrency has retested the present support for the second time today. Bitcoin is currently trading in a constrained range between levels $15,500 and $18,150. BTC price is increasing right now and is currently at a high of $16,899.99.

Bitcoin Price Statistics Data:•Bitcoin price now – $16,899.99•Bitcoin market cap – $324,977,488,226•Bitcoin circulating supply – 19,208,587.00 BTC•Bitcoin total supply – $354,899,728,306•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000

Bitcoin (BTC) price is in a negative trend as it rises over the level of recent support. On November 14, as the crypto price started moving upward once more, sellers were unable to breach the present support. The $14,100 low has been the target of two failed attempts by the bears to lower Bitcoin. The cryptocurrency has reached a peak today of $16, 899, thanks to purchasers.

Buyers’ ultimate goal is to break through the initial resistance at $18,150. This will encourage Bitcoin to increase and retest the $17,605 and $18,210 prior resistance levels. If buyers are able to overcome the resistance levels, the largest cryptocurrency will rise above the psychological price barrier of $20,000. On the other hand, if the current bullish momentum fails to surpass the most recent high, Bitcoin will be forced to keep moving in a range between $15,500 and $18,150.

President Bukele of El Salvador Claims That Bitcoin Is “The Reverse” of FTX – It Reaches $17K

Bukele referenced the most recent FTX fall to highlight why Bitcoin is distinct from other currencies, despite the criticism he previously faced for buying BTC while markets fell. The FTX explosion sent shockwaves across the globe and seriously damaged investor confidence. The Salvadoran President Nayib Bukele and Changpeng “CZ” Zhao, two seasoned cryptocurrency enthusiasts, nevertheless, continue to see through the mist while advancing their goal of financial freedom. Bukele was the driving force for the widespread adoption of Bitcoin (BTC) in El Salvador.

Bukele referenced the most recent FTX fall to highlight why Bitcoin is distinct from other currencies, despite the criticism he previously faced for buying BTC while markets fell. As President Bukele described the underlying workings of the Bitcoin protocol, “FTX is the reverse of Bitcoin.” A trustless financial system can be achieved by using an immutable peer-to-peer network, as the Bitcoin white paper emphasizes. Sam Bankman-Fried, the CEO of FTX, as well as other financial fraudsters like Bernie Madoff, were singled out by Bukele, who also noted.

Bitcoin (BTC) has regained bullish momentum as it reaches $17K. Bitcoin is gaining. The price of Bitcoin is now restricted between $15,500 and $18,150. Sellers have attempted to break the existing support twice but have been unsuccessful. The $18,150 resistance level must be broken for Bitcoin to resume its upward trend.

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