Recession fears mount as a 20% decline in the S&P 500 places stock in a bear market, increasing the chance that BTC and altcoins will make new lows.
Whoever coined the phrase “sell in May and go away” had brilliant insight and the performance of crypto and stock markets over the past three weeks has shown that the expression still rings true.May 20 has seen a pan selloff across all asset classes, leaving traders with few options to escape the carnage as inflation concerns and rising interest rates continue to dominate the headlines. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) taking on water below $29,000 and traders worry that losing this level will ensure a visit to the low $20,000s over the coming week. BTC/USDT 1-day chart. Source: TradingViewAs reported by Cointelegraph, some analysts warn that BTC could possibility decline to $22,700 based on its historical price p
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