Many Traders Sold Bitcoin at $20,000, But There’s a Catch

This recent report shows that great deal of traders sold Bitcoin once it went above $20,000, but things may change abruptly, according to this report

In a recently published tweet, popular data aggregator Sentiment shared that once Bitcoin crossed the crucial $20,000 price line, many market participants began to lock in their profits.

However, the Santiment team mentioned a slight chance of the same traders regretting selling and starting backing Bitcoin again.

📈 Many traders were apparently awaiting the $20k threshold to begin selling their bags. As #Bitcoin crossed back above this psychological level, mass profit taking ensued. Now we find out whether those anxious to sell will regret their decisions. https://t.co/k5o3UpZGfY pic.twitter.com/kXXbCSz05Y

— Santiment (@santimentfeed) September 27, 2022

Robert Kiyosaki Comments on Bitcoin’s Fall and Market Crash

Earlier today, the largest cryptocurrency on the market, Bitcoin, managed to break the psychologically important $20,000 level for the first time since September 18.

Data shared by CoinMarketCap shows that the overall capitalization of the cryptocurrency market has come back close to the $1 trillion level.

However, as traders began to sell bitcoin as it topped important price levels, the leading crypto has not progressed anywhere and is attempting to hold above $20,000.

Prominent supporter of Bitcoin, investor and non-fiction writer Robert Kiyosaki – famous for his book on financial self-education “Rich Dad, Poor Dad” – has tweeted that the current crash has even hit Bitcoin. He stated that the “biggest crash” has been building up since the 1990s, and the Federal Reserve printing unsubstantiated USD is at fault for it.

“Everything crashes in a crash, everything from gold, silver, bitcoin,” he wrote in the tweet. Kiyosaki pointed out that the only way people can get out of this crash is financial knowledge.

EVERYTHING BUBBLE into EVERYTHING CRASH. I warned in my books, the biggest crash has been building since 1990s. Rather than fix problems FED printed FAKE $. In Everything Crash everything crashes even gold, silver, BC. Your ultimate asset in giant crash, your financial wisdom

— therealkiyosaki (@theRealKiyosaki) September 26, 2022

In previous tweets, he shared that his dealer cannot buy him more physical silver as the mint will not sell it anymore. He has said that there is still enough Bitcoin to be bought, but he did not urge buying BTC this time.

Fed hikes rates for the third time in a row, bitcoin falls

A week ago, the US Federal Reserve took another sharp step in an effort to break the backbone of inflation — yet again this year, the Fed raised the interest rate by 75 basis points. After this happened, bitcoin started a decline from the $19,800 to $18,800 level within an hour, printing a long red candle on the chart.

This is the third consecutive interest rate hike this year since May.