Forex

Bitcoin price bounces to $33K but analysts say ‘it’s too early’ to call a bottom. Dip buyers stepped in as Bitcoin price fell to $29,000 but analysts caution that China’s crackdown on BTC mining and a lack of buy volume mean the crypto market has not found a bottom yet. Cryptocurrency investors found little reprieve on June 22 as the price of Bitcoin (BTC) fell below $30,000 for the first time since January, sparking panic among less experienced market participants who have yet to experience a full market cycle. While Bitcoin has been under increasing pressure from multiple sources since early May, the most recent bout of selling has been largely attributed to capitulation by China-based miners who have been forced to abruptly shut down their operations. Data from Cointelegraph Markets Pro and TradingView shows that after dropping to $28,800, Bitcoin price bounced back above the $30,000 level and currently trades for $32,600.