{"id":151262,"date":"2023-09-07T09:07:57","date_gmt":"2023-09-07T03:37:57","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=151262"},"modified":"2023-09-07T09:07:57","modified_gmt":"2023-09-07T03:37:57","slug":"heres-why-bitcoin-will-hit-22k-soon-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/heres-why-bitcoin-will-hit-22k-soon-crypto-news\/","title":{"rendered":"Here\u2019s why Bitcoin will hit $22K soon &#8211; Crypto News"},"content":{"rendered":"<div data-v-2649fa34=\"\">\n<p>In the latest episode of Cointelegraph\u2019s <em>The Market Report<\/em>, analyst Marcel Pechman explores the drivers that point to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-futures-22k-btc-price-logical-step\" data-amp=\"https:\/\/cointelegraph-com.cdn.ampproject.org\/c\/s\/cointelegraph.com\/news\/bitcoin-futures-22k-btc-price-logical-step\/amp\">Bitcoin heading to $22,000<\/a>, with investor\u00a0sentiment worsening after Grayscale Investment\u2019s much-hyped legal victory against the United States Securities and Exchange Commission (SEC) on Aug. 29 and its postponement of multiple spot Bitcoin (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/bitcoin-price\">BTC<\/a>) exchange-traded fund applications.<\/p>\n<p>According to Pechman, on the side of the bears are multiple lawsuits from the SEC against Binance and Coinbase, including a potential indictment from the U.S. Department of Justice regarding money laundering and facilitating trades from Russian entities. But, more importantly, U.S. inflation has come down to 3.2%, and the U.S. Federal Reserve is draining liquidity from the markets.<\/p>\n<p><iframe loading=\"lazy\" title=\"Here\u2019s why Bitcoin will hit $22K soon\" width=\"740\" height=\"416\" src=\"https:\/\/www.youtube.com\/embed\/3SaOBLBNZB0?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<p>Pechman also analyzes <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/btc-bull-run-started-in-march-arthur-hayes\" data-amp=\"https:\/\/cointelegraph-com.cdn.ampproject.org\/c\/s\/cointelegraph.com\/news\/btc-bull-run-started-in-march-arthur-hayes\/amp\">BitMEX founder Arthur Hayes\u2019s claims<\/a> that the Bitcoin bull market began in March. Hayes pinpoints the Silicon Valley Bank fallout and the subsequent intervention by the U.S. Treasury Department as the turning points for the crypto market.<\/p>\n<p>Pechman agrees with Hayes but raises the issue of the U.S. Dollar Index, which measures the U.S. dollar against other major foreign currencies, such as the euro or the Swiss franc, and now sits at the same level as six months prior. Pechman says investors have realized that other countries would likely collapse before the U.S. in the event of a global economic recession.<\/p>\n<p>Ultimately, Pechman believes it doesn\u2019t matter to the Federal Reserve if salvaging the banks could trigger economic turmoil, given that U.S. Treasurys and the U.S. dollar are still considered the safest options.\u00a0<\/p>\n<p>Listen to the full episode of <em>The Market Report<\/em> on the new <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/@cointelegraphmarketresearch\">Cointelegraph Markets &amp; Research YouTube channel<\/a>, and don\u2019t forget to click \u201cLike\u201d and \u201cSubscribe\u201d to keep up-to-date with all our latest content.<\/p>\n<p><em><strong><em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/mint.cointelegraph.com\/?url=https:\/\/cointelegraph.com\/news\/bitcoin-will-hit-22k-soon&amp;utm_source=cointelegraph_com&amp;utm_medium=appendix&amp;utm_campaign=articles\" data-amp=\"https:\/\/mint-cointelegraph-com.cdn.ampproject.org\/c\/s\/mint.cointelegraph.com\/?url=https:\/\/cointelegraph.com\/news\/bitcoin-will-hit-22k-soon&amp;utm_source=cointelegraph_com&amp;utm_medium=appendix&amp;utm_campaign=articles\/amp\">Collect this article as an NFT<\/a><\/em><\/strong><em> to preserve this moment in history and show your support for independent journalism in the crypto space.<\/em><\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In the latest episode of Cointelegraph\u2019s The Market Report, analyst Marcel Pechman explores the drivers that point to Bitcoin heading to $22,000, with investor\u00a0sentiment worsening after Grayscale Investment\u2019s much-hyped legal victory against the United States Securities and Exchange Commission (SEC) on Aug. 29 and its postponement of multiple spot Bitcoin (BTC) exchange-traded fund applications. According [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":151263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-151262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=151262"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151262\/revisions"}],"predecessor-version":[{"id":151265,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151262\/revisions\/151265"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/151263"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=151262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=151262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=151262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}