Bitcoin (CRYPTO: BTC) hit $21,300 after dipping to $17,100, its lowest 18-month point for the 4th time in the same month. The $4,000 surge over the weekend has brought BTC back above its support level at $20,000 similar to its $30,000 level, which maintained its strength for a few months before tumbling to the bottom.
As market analysts forecast the cryptocurrency’s near-future trend, Leah Wald, CEO at Valkyrie Investments told CNBC that the bear market hasn’t ended yet. Most corporates, institutions and sovereigns have bought into the support levels of $20,000 and “these market participants” would make sure “their trades are not going underwater,” Wald said.
