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The price target for Bitcoin will now be $13,500 as traders call for everyone to exit the markets.

December 5, 2022

Bitcoin suffers a reversal after the great fall of FTX, however, analysts warn that BTC and altcoins suffer very significant losses. The price of Bitcoin is currently at 15,999 dollars, when the events of the Exchange FTX occurred, the price of BTC reached 16,500, giving a great push to the drop in the price of the other altcoins.

According to the data presented by TradingView, they showed that the BTC/USD only presented slight volatility when opening the Wall street markets; The pair showed the acclimatization of the events that occurred around the bankruptcy and insolvency of FTX, within the report presented it is possible to reflect that Alameda Research was immune to this liquidation while operating on the FTX platform.

Within the application made to the bankruptcy court in the United States for the District of Deleware, Ray frames that the corporate control of the FTX Exchange is a complete failure.

US lawmakers are reportedly considering a dedicated FTX hearing for next month, while Bankman-Fried is the subject of an effort to get him extradited from the Bahamas.

The price of Bitcoin has managed to resist volatility, this is evidenced in the news that has been a trend after seeing the Cryptocurrency lending arm of Genesis Trading on November 16.

However, after analyzing the current climate, the news, and popular commentators after November 17, the news is far from optimistic.

Investors of Bitcoins and other cryptocurrencies really need to recover their price of $17,600 considering that at the moment it is the bears who are really in control.

According to what was stated by the different professionals and the trends among the different news, they warn that both Bitcoin and the other altcoins could suffer losses of up to 50% before starting again with an upward trend, which has all investors worried.

It is for this reason that many are asking everyone to get out of the markets as soon as possible warning that no one is prepared for what is coming in the next few days.

Bitcoin liquidity offers support only when it reaches $13,500.

On this information, they reveal that the possible cause of the drop in the BTC/USD pair is due to the fact that the purchase orders are in the 13,500 zone, where liquidity is expected to be injected into the currency and its price to stabilize even where it can to have an uptrend.

Although there are several purchase orders made by the different traders at the prices of 18,500 USD, 17,200 USD, and 15,500 USD, most of them are at 13,500 as can be seen in the Exchanges.

However, the analysis carried out on the different indicators managed to calculate the total liquidity for the Bitcoin price at around 13,000 USD, with around 195 million in purchase orders as evidenced in Binance orders.

This situation has thousands of investors worried, especially the newbies who assume the losses and are leaving the market en masse, which is being taken advantage of by the different whales who already have different purchase orders at the prices mentioned above.