Bitcoin enthusiasts remain optimistic about the price of Bitcoin reaching its peak before the year runs out, there are few months left before the end of 2022 and the largest crypto by market capitalization remains stagnant, struggling to cross 24k support, for some months with its price movement, although there are several factors according to expert affecting the crypto market, among which includes the uncertainty of crypto market regulation policy, feds hiking interest rates, Russian shutdown gas lines limiting the supply of oil and stock market struggling to keep up with price.
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Bitcoin made an all-time low of $18,702 in the past 24hr according to data from coinmarketcap at the time of making this post, it has regained a price of $18,817 considering how volatile the market seems, which records a drop of over 5% in the largest crypto token by market capitalization, from it's high of 20k in the last 24hr a price change of over -$1,180 shows over the past two months, bitcoin has not fallen below 19k since July 4th, the second largest token by market cap Ethereum was down by 1.79%, and Cardano (ADA) by 6.1% respectively.
Data from coinglass shows over 100k traders have been liquidated in the past 24hr with the largest liquidation on the Okex exchange about $357 million have also been wiped out due to liquidation call on traders open trade.
Will this be a new spike for price rally or will Bitcoin bottom out before making a jump to start its bullish run rally?