Bitcoin smackdown hits a low of $20,125 as the FUD gets turned up to ten

- Crypto prices were hammered in trading on Thursday as the announcement that Silvergate Bank would be winding down operations and the threat of higher interest rates pushed many traders to head for the exits and the safety of stablecoins until the latest turmoil blows over.

Data provided by TradingView shows that Bitcoin bears held nothing back in their onslaught on bulls, hammering the top crypto below support at $21,000 and looking as though they are determined to break the back of support at $20,000.Prior to the afternoon selloff, Kitco senior technical analyst Jim Wyckoff noted the possibility of such an outcome, saying “Bears have gained the slight near-term technical advantage amid a fledgling price downtrend in place on the daily bar chart.

— Michaël van de Poppe March 9, 2023 Following the pullback, Poppe observed that “Almost a month ago people wanted to get into Bitcoin, and rushed over each other,” but are now running for the exits since the price has dropped 20% since then. According to Poppe, this “is the time you should start accumulating, and not when things have been rallying massively. Countertrade your emotions.”

#BTC rejects from the confluent resistance that is the Range High and Macro Downtrend$BTC is now dropping into the Range Low as part of its consolidation

A wealth tax is quadruple taxation. Income Tax Sales Tax Wealth Tax Opportunity Cost Tax. When the wealthy or the poor need to invest there is no one giving out free money. This eliminates the future investment pools & destroys the ecosystem. Bitcoin

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