Bitcoin is approaching the $20 thousand mark

Bitcoin continues to demonstrate a persistent «bearish» trend, approaching the main psychological threshold of $20 thousand. The current bitcoin quote paired with the US dollar is $20880. 

The pressure on the most popular cryptocurrency continues to be exerted by sales on the world market and the mass withdrawal of investors from risky assets. For example, the Nasdaq index closed more than 4% lower on Thursday, and the S&P 500 fell 3.25%. The Dow Jones index fell below the key threshold of 30,000 points for the first time in more than a year, falling by 2.42%. 

The French CAC 40 index ended the day down 2.39%, while the German Dax index fell 3.31%.

Yesterday, European investors were surprised by an unexpected rate hike of 0.50% by the Swiss National Bank. As you know, the central bank of Switzerland is one of the most «dovish» regulators, and the rate was raised for the first time in the last 15 years. 

However, despite all the negative factors, analysts also highlight a positive moment in the dynamics of the cryptocurrency – the fact that bitcoin has not yet tested the threshold of $20 thousand. And if the asset manages to return to the $25k area, it could lead to a new upward rally (as at the end of 2020, when BTC rose sharply to a historic high above $60k).