Throughout the past week, the bitcoin price has increased from $3,901 to $4,048, by nearly 4 percent against the U. S. dollar. The relatively strong short-term performance of bitcoin led alternative cryptocurrencies to engage in large upside price movements, allowing the valuation of the crypto market to rise by about $7 billion.

However, while traders, technical analysts, and strategists generally remain positive on the mid-term price trend of bitcoin, some traders foresee the dominant cryptocurrency retesting key support levels in the mid-$3,000 region. Will Bitcoin Drop Back to $3,000 or Was it the Bottom? Since December 2018, bitcoin tested the $4,200

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