Bitcoin Price Prediction for Today, March 3: BTC Price Inevitably Drops to $22K ByAzeez MustaphaPRO INVESTOR Updated: 03 March 2023 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin Slides to the Oversold Sector as BTC Price Inevitably Drops to $22K – March 3, 2023 After a week of price wrangling below the resistance at $24,000, BTC’s price inevitably drops to $22K. Buyers failed to recover the $24,000 price level after being denied at the overhead barrier. The largest cryptocurrency has returned to the bearish trend zone, indicating an impending further decline.Bitcoin Price Statistics Data:•Bitcoin price now – $22,407.86•Bitcoin market cap – $432,762,041,590•Bitcoin circulating supply – 19,306,731 BTC•Bitcoin total supply – $470,702,776,800•Bitcoin Coinmarketcap ranking – # 1Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000 The cost of Bitcoin swiftly fell below the moving average lines on March 3, hitting a low of $21,968. When Bitcoin corrected upward today, the bulls bought the dips. But, the upward correction has come to an end due to selling pressure. On February 10, the price of Bitcoin hit a low of $21,500 before beginning to rise once more. The price continued to rise, hitting a peak of $25,234 on February 16. The BTC price is anticipated to revisit its previous low of $21,500 today. At this time, the price of Bitcoin is looping over the $22,000 support. The upward momentum could resume on the downside if the existing support is maintained. But, if the current support is broken, the price of BTC will drop back to its previous low of $21,500. The largest cryptocurrency asset may drop down to the $20,000 psychological price threshold if it also loses the $21,500 support. The Silvergate Scandal Causes a 5% Decline in Bitcoin Price in 60 Minutes In the early hours of March 3, the price of BTC plunged sharply by 5% in 60 minutes, wiping out $22 billion from Bitcoin’s market capitalization. In just over 60 minutes, the price of Bitcoin (BTC) dropped more than 5% from $23,500 to $22,240 due to a wave of unease around the crypto-friendly bank Silvergate Capital. The market capitalization of Bitcoin, which is at $430.9 billion, has decreased by $22 billion as a result of the price decline. According to the research, numerous cryptocurrencies other than Bitcoin have also experienced a similar dramatic decrease, including Eth (ETH), XRP (XRP), Cardano (ADA), Polygon (MATIC), and others. BTC/USD – 4 Hour Chart In the interim, the largest cryptocurrency plunged precipitously to the oversold region as the BTC price inevitably drops to $22K. According to the price indication, BTC will eventually decline to level 2.0 of the Fibonacci extension, or $22,209. Yet, based on the movement of the market, the cost of Bitcoin fell to a low of $22,000 before increasing once more. The current slide has reached the oversold sector of the market. Further decrease is unlikely Bitcoin Alternatives A setback has occurred with Bitcoin drop above the $22,000 support level. In January and February, BTC values rose, reaching a high of $25,000. The decline in March is a red flag for cryptocurrency investors. Due to the decline in Bitcoin’s value, other cryptocurrencies and tokens have seen a decline in value. Investors in cryptocurrencies have access to the Fight Out (FGHT) token, which clears up the uncertainty in the cryptocurrency market. Fight Out (FGHT) is the best token to buy today, as it gives a huge edge. The metaverse is poised to explode and we’re excited to be a part of it. Prepare yourself for a total experience like never before. Battle it out with other players and remain fit. Join our presale and get intriguing updates. Nearly $5.5 million has already been collected. Fight Out (FGHT) - Train to Earn Crypto Rating CertiK audited & CoinSniper KYC Verified Early Stage Presale Live Now Earn Free Crypto & Meet Fitness Goals LBank Labs Project Partnered with Transak, Block Media Staking Rewards & Bonuses Learn More Join Our Telegram channel to stay up to date on breaking news coverage