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Bitcoin price holds $23.5K, leading bulls to say ‘it’s different this time’

Published 07/19/2022, 07:23 PM
Updated 07/19/2022, 10:20 PM
Bitcoin price holds $23.5K, leading bulls to say ‘it’s different this time’

Similar to Stockholm syndrome where captives develop a psychological bond with their captors, crypto winters have a way of flipping even the most bullish cryptocurrency supporters bearish in a short period of time.

Evidence of this reality was on full display on July 19 after the recovery of Bitcoin (BTC) back above $23,000 was met with widespread warnings that the move was merely a fakeout before the market heads for new lows

BTC/USD 4-hour chart. Source: Twitter (NYSE:TWTR)
Bitcoin volume profile. Source: Twitter
BTC/USD 2-hour chart. Source: Twitter

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