RATE Group | Bitcoin Bears Looking to Finally Make a Surrender: Analysts
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Bitcoin Bears Looking to Finally Make a Surrender: Analysts

02 Dec Bitcoin Bears Looking to Finally Make a Surrender: Analysts

Posted at 17:28h in Bitcoin News by

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Bitcoin price is yet again in the red, circling around $4,000 level. According to the experts, Bitcoin is nearing capitulation with chances of going uptrend.

Bitcoin Price Struggling around $4k

Bitcoin is currently trading at $4,057 with about 2 percent losses. The leading cryptocurrency is yet again in the red after seeing a surge. However, this downwards move could be temporary as analysts from UK-based research firm, FX Pro Insights shared,

“Many market participants have decided to take an optimistic approach and BTC’s decline to $3,500 was an important support point for the cryptocurrency… Within this context, it should be noted that speculators may soon begin to profit from this trend, which may trigger a new wave of sales… The real question is: Has the crypto market indeed reached the bottom?”

Signs of capitulation are being seen by experts as according to Chris Beauchamp, an analyst at IG, an online trading platform says Bitcoin is close to a “capitulation…

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