THELOGICALINDIAN - Bitcoin and the absolute cryptocurrency bazaar accept been bent in the affliction of an acute bender of alongside trading throughout the accomplished few days
This has appear about accordingly with diving trading volume, as investors are acutely growing beneath absorbed in trading the best it consolidates.
Trading aggregate acicular overnight, however, with account letters apropos the OKEx founder’s arrest alarming some investors.
Bitcoin’s price alone concluded up seeing a aerial acknowledgment to this news.
One analyst is deeming this a above achievement for beasts that elucidates Bitcoin’s macro strength.
Bitcoin Stable Despite Being Struck with Another Bearish Development
At the time of writing, Bitcoin is trading bottomward aloof over 1% at its accepted amount of $11,390. This is about the amount at which it has been trading throughout the accomplished week.
It did see a aciculate brief abatement that beatific it to lows of $11,200 afterwards account bankrupt apropos OKEx, but this selloff was rapidly captivated and followed by a massive arrival of affairs pressure.
BTC is now aback area it has been trading throughout the accomplished few weeks and could be well-positioned to see added upside in the near-term.
Analyst: BTC’s Strength Despite Bearish News is Highly Bullish
While speaking about Bitcoin’s acknowledgment to the OKEx news, one analyst declared that its price always cutting college on bearish developments is a attestation to its macro strength.
If Bitcoin charcoal abiding throughout the advancing day, it could announce that a massive advance college is looming on the horizon.
