Bitcoin analysts give 3 reasons why BTC price below $20K may be a 'bear trap'

Bitcoin analysts give 3 reasons why BTC price below $20K may be a 'bear trap'

Https://cb.run/BSnP Bitcoin analysts give 3 reasons why BTC price below $20K may be a 'bear trap'Bitcoin (BTC) recovered above the $19,000 mark on Sept.

20, a day after falling to its lowest level in three months.

Bitcoin struggles after dropping below $20K On the daily chart, the BTC price rose from $18,255 to $19,650.

This 7.5% price rebound mirrored similar rebound moves witnessed in the stock market, suggesting that investors have been coming to terms with another significant rate hike by the Federal Reserve expected on Sept.

20–21.

BTC/USD daily price chart versus ACWI and Nasdaq.

Source: TradingView However, opinions differ on the longevity of Bitcoin's rebound.

Independent market analyst Jonny Moe stressed that BTC's...