Bitcoin (BTC) Must Make It Past This Threshold To Bounce Back

The United States just released the Employment Situation Summary, which describes the present state of the American labor market. Bitcoin, the dominant crypto currency on the market, is banking on the freshly disclosed data for a possible bear market departure. Bitcoin has struggled to maintain its value inside the critical $20,000 level. Despite this, investors have elected to HODL over the forthcoming crypto winter. Over 62% of addresses with the currency have not been sold in the past year. This could suggest that investor sentiment as a whole is mixed. Despite the fact that some investors elected to continue holding the currency, 32% of investors chose to sell the currency after holding it for between one and 12 months, while 6% sold their currency after holding it for only one month. Related Reading: Dogecoin Slowly Retests $0.06 As DOGE Is Seen Moving Higher Over The Next Days Many Believe Bitcoin Will Recover While investor mood has been extremely volatile, the large proportion of investors who opted to hold indicates that many continue to believe Bitcoin will recover. This may be the case now, as Uncle Sam has provided a breakdown of the total employment picture in the United States. Since the release of the jobs report, the Bitcoin market has gained minimally. Coingecko reports that the price of Bitcoin at the time the report was published was $20,060.85. This reasonably large price increase from the early morning pri...