Bitcoin Price Vulnerable Despite 2019 High, Traders Predict Plummet to $4,200

2019-5-7 13:45

By CCN. com: In the past 24 hours, the bitcoin price spiked by nearly five percent from $5,580 to $5,880, surpassing $5,900 at the day’s peak, fueling the cryptocurrency market. The abrupt increase in the bitcoin price was supported by a noticeable increase in daily bitcoin spot volume estimated to be around $570 million as of May 7 by OnChainFX.

In comparison, the daily bitcoin spot volume in early March was $270 million. Although industry executives and prominent researchers in the likes of Ethereum co-creator Joseph Lubin and cryptocurrency analyst Willy Woo believe the bottom is in for bitcoin, some traders

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Bitcoin (BTC) на Currencies.ru

$ 87602.09 (-0.09%)
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Bitcoin Remains In Bearish State Despite Recent Surge — Here’s Why

Although the Bitcoin price has recently displayed swift recovery to the upside, the broader picture still mirrors a bleak future for the flagship cryptocurrency. A new on-chain evaluation has surfaced, which suggests that Bitcoin’s recent price recovery could be happening within a broader, weak trend, with macroeconomic factors acting as the major influences.

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