Bitcoin's long-term holders remain unfazed by market turbulence, an analyst says Bitcoin
Bitcoin keeps hovering above the"make-it-or-break-it" $18,000 support level, with bulls fighting tooth and nail to defend it., T3 Trading Group's Scott Redler predicted earlier this month that Bitcoin was likely to experience a precipitous drop if bulls were to lose the $17,600 level, which remains the lowest point of 2022.
The largest cryptocurrency is currently down roughly 5% this September. For comparison, the tech-heavy Nasdaq 100 index, which includes such constituents as Microsoft Corporation , Amazon , Nvidia and others, is down roughly 7%. The benchmark S&P 500 index is also down 5.6%.The largest cryptocurrency is currently down 58% since the start of the year. It has so far performed in line with other risk assets that have been bettered by the U.S. Federal Reserve's hawkish monetary policy.
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