Bitcoin Price Prediction as BTC Sees Huge $15 Billion in Volume – Here’s Where BTC is Headed Next
On November 28, Bitcoin price prediction will likely remain bearish under $16,360 support, which will become resistance. Protests in China, the world's second-largest economy, have caused most of the selling pressure in the overall cryptocurrency market.
The cryptocurrency market is falling as a wave of investor jitters swept global markets, fueled by protests in China against Covid restrictions. Protesters outraged by the harsh COVID-19 regulations demanded the resignation of China's strong leader.
A fire in an apartment building in Urumqi, in the northwesterly province of Xinjiang, killed at least ten people on November 24. Because of China's zero-covid policy, many victims were trapped inside their homes and were unable to flee. Protests began on November 25 in many cities, including the nation's capital, Beijing, and dozens of college campuses.
China's economy is the world's second-largest. As a result, it has a significant impact on international financial markets, prompting investors to seek safe havens for their investments. Investors' risk aversion tends to increase the value of safe-haven assets such as the US dollar, bonds, and the yen.
The ongoing unrest in China may exploit a vulnerability in the cryptocurrency markets, which have already been rattled by the collapse of the crypto exchange FTX earlier this month. Furthermore, because stocks and cryptocurrencies are risky assets, they are experiencing negative market action.
The world's markets were under pressure on November 28 as investor concern grew. The effect can be seen in the cryptocurrency industry, with the entire crypto market falling by 3% the previous day. Moreover, given the strong correlation between the price of cryptocurrency and the stock
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