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    Cryptonaire Weekly Magazine 238th Edition Is Out Now, Jun 16, 2022
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    The selling picked up momentum after the US Bureau of Labor Statistics reported on June 10 that the consumer price index soared 8.6% for the 12 months ending May, the largest annual increase since December 1981. The sell-off in the equity markets continued on June 13 and the S&P 500 fell into the bear market territory.

    After the fall in Bitcoin, MicroStrategy’s stash of 129,219 Bitcoins purchased at $3.97 billion is valued at $2.82 billion and Tesla’s Bitcoin holding acquired at $1.5 billion is valued at $945 million, according to Bitcoin Treasuries. Talks of MicroStrategy facing margin calls below $21,000 have been doing rounds but the firm’s CEO Michael Saylor previously said that Bitcoin will have to drop below $3,500 before it becomes a problem.

    We had suggested in our previous analysis that if Bitcoin plummets below $25,338, it could drop to $20,000. That is what happened and Bitcoin dropped to $20,816.40 on June 14. The bulls are expected to defend the $20,000 support with all their might.

    The sharp fall of the past few days has sent the relative strength index deep into the oversold territory. This suggests that the selling may have been overdone in the short term and a relief rally is likely.

    If the price rebounds off the current level, the BTC/USD pair could rise to $25,338 and then to $28,800. The bears will try to flip this zone into resistance. If they do that, it will suggest that the sentiment remains negative and traders are selling on rallies.

    The bears will then again attempt to resume the downtrend. A break below $20,000 could open the doors for a possible decline to $15,000 but we give it a low possibility of occurring.

    On the upside, the bulls will have to push the price above the 20-day exponential moving average (EMA) to indicate that the sellers may be losing their grip. A potential trend change will be signalled if bulls push the pair above $32,646.

    Lastly please check out the advancement’s happening in the cryptocurrency world.

    Enjoy the issue!

    Featuring in this weeks Edition:

    - PlutusFi

    - Brise Paradise

    - DC Pay

    - GlobiancePay

    - Musicology

    - Asia Broadband

    - AppZaloot

    - Age of Zalmoxis

    - Inddais

    - Bancambios

    - LunaOne

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