THELOGICALINDIAN - Bitcoin and the blow of the crypto bazaar accept been bent aural a abiding bender of turbulence throughout the accomplished few canicule with bears aggravating to about-face BTCs contempo momentum
However, their attack bootless as the cryptocurrency’s contempo lows of $16,400 arise to now be a abiding bounded bottom.
One banker is acquainted that it is a acute moment for Bitcoin, with its connected acknowledgment to the amount arena it is currently trading within, acceptable accouterment investors with austere insights into its mid-term outlook.
Bitcoin Rallies Past $19,000 as Uptrend Heats Up
At the time of writing, Bitcoin is now trading up about 6% at its accepted amount of $19,200. This marks a massive billow from its contempo $16,400 lows set beneath than a anniversary ago.
These lows came about due to the bounce it faced aloft its aboriginal analysis of the mid-$19,000 arena and were perpetuated by the Treasury Secretary’s comments apropos a abeyant new beachcomber of regulations on the crypto market.
Bulls accept back shrugged these fears off as they actuate the crypto accomplished the attrition it ahead faced in the $19,000 region.
Analyst: BTC at a Crucial Price Point as Bulls Try to Break Key Resistance
While administration his thoughts on Bitcoin’s present outlook, one banker explained that he is carefully watching how the cryptocurrency reacts to the attrition arena it is currently acute up against.
The advancing few hours should flash a ablaze on area Bitcoin will trend next, as a breach aloft the lower-to-mid $19,000 arena afore its circadian candle abutting could advance to austere upside during the anniversary ahead.
