Alex Thorn, crypto firm Galaxy Digital Group’s head of research, argued that even if a further crash was in the cards, traders who bought BTC in similarly grim occasions in bitcoin’s history could return a profit within as soon as a month. If the largest cryptocurrency were to suddenly sell off, he pegs $17,000 as a key level that would provide strong price support. As of press time bitcoin was changing hands around $20,000, well off the all-time high around $69,000 reached last November.
Source: https://www.coindesk.com/markets/2022/09/01/bitcoin-traders-outlook-is-so-bleak-that-some-analysts-see-buying-opportunity/?utm_medium=referral&utm_source=rss&utm_campaign=headlines