THELOGICALINDIAN - Bitcoin and the absolute cryptocurrency bazaar accept been growing stronger and stronger with anniversary casual day
Bears accept approved to accretion ascendancy of the criterion agenda asset on assorted occasions, but they accept been wholly clumsy to do so.
Where the absolute bazaar trends abutting will depend abundantly on whether or not buyers can abide ballyhoo the aerial time anatomy attrition levels that lie aloof aloft area it is currently trading.
One adept banker is additionally acquainted that while Bitcoin has yet to see any aciculate selloffs, it is a able achievability that the cryptocurrency will see some in the months advanced as its macro uptrend continues.
Bitcoin Nears 2024 Highs as Bulls Flex Their Strength
At the time of writing, Bitcoin is trading up over 3% at its accepted amount of $16,420. This is aloof a beard beneath its contempo highs of $16,500 set aloof a few canicule ago.
If it can blast the attrition at $16,500 and assemblage appear $17,000, it could be on the bend of actuality catapulted to its antecedent best highs.
A bounce actuality is likely, but it charcoal cryptic how continued this akin will authority as resistance.
Veteran Trader Claims BTC May See Some Serious Pullbacks
One adept banker explained that although Bitcoin’s amount activity is abundantly strong, he believes that the cryptocurrency could see some above pullbacks in the approaching while still advancement its balderdash trend.
He addendum that, historically, BTC sees about 9 cogent corrections throughout the advance of a macro uptrend.
This agency investors shouldn’t be abashed if Bitcoin sees a abrupt alteration in the weeks and months ahead.
