Cryptocurrency
Three Reasons Why Bitcoin May Have Just Short-term Bottomed After Big Spike
As reported by NewsBTC, “Bitcoin is leading crypto markets back into the green again today but they have a long way to go before anything can be considered ‘healthy’. The 14% bounce could simply be a bull trap or BTC may finally have been at the bottom and readying for another run. “This week has […]
As reported by NewsBTC, “Bitcoin is leading crypto markets back into the green again today but they have a long way to go before anything can be considered ‘healthy’. The 14% bounce could simply be a bull trap or BTC may finally have been at the bottom and readying for another run.
“This week has been pretty grim for BTC which has dumped 8.5% from $7,100 on Monday to bottom out at $6,500 yesterday. Just as analysts were preparing for further losses the king of crypto surged a whopping 14% during late trading yesterday to top out at $7,450.
“It has been the largest single upward movement since the China driven pump at the end of October. Bullish sentiment has returned to Bitcoin markets and analysts are suggesting this may have been a short-term bottom.