Edward Snowden claims he has the urge to invest $16,500 in Bitcoin

As the BTC price movement consolidates below $17,000, Snowden draws attention to purchasing Bitcoin following the March 2020 collapse.

Cointelegraph Markets Pro and TradingView data indicated that BTC/USD ranged below $17,000 the day after a disastrous weekly finish.

The biggest cryptocurrency failed to provide compelling indications of recovery after losing more than 25% in the previous week due to the exchange FTX scandal.

At the time of writing, this fiasco was continuing, with discoveries spreading to additional companies with major exposure to the defunct exchange.

With little light at the end of the tunnel evident, it was expected that BTC price movement remained weak. “Markets are consolidating,” stated Michal van de Poppe, founder and chief executive officer of trading platform Eight.

After the dreadful news we’ve heard over the previous several weeks, I’d suppose we’re at $10,000. Trader and analyst Rekt Capital, meanwhile, warned of impending support-resistance flips due to Bitcoin’s two-year low weekly closing.

“These are the BTC Monthly levels shown on the Weekly timeframe,” he tweeted with a chart depicting key focus points.

“According to the chart, $BTC has achieved a new Weekly Close below the Monthly milestone of $17300. Initial indications that this level may become a fresh barrier this week”

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