Bitcoin dealers are holding out hope for a last-minute surge.
The price of bitcoin fell on Tuesday as the US financial markets fell again, continuing their losing run.
An important item to note is that as the price of Bitcoin has declined, the returns on US Treasury bonds have begun to appear appealing and give security, as the US government will always repay its obligations and is unlikely to default.
BTC traders are wagering that the US Treasury, like a Lannister, would repay its loan and interest, and investors are expecting annual returns of 1.5% to 4% or 5% without the whipsaw movements of the equities markets.
This might lead to BTC reaching $16,020 and flirting with more declines in the following days and weeks.
To begin with, the 55-day Simple Moving Average (SMA) will be tested at $17,200, with $18,000 as the target level.
