RATE Group | Bitcoin Bounces Back Above $7,000 Despite Crypto Sentiment Making Sudden Shift
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Bitcoin Bounces Back Above $7,000 Despite Crypto Sentiment Making Sudden Shift

19 Dec Bitcoin Bounces Back Above $7,000 Despite Crypto Sentiment Making Sudden Shift

Posted at 00:18h in Bitcoin News by

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Bitcoin and cryptocurrency markets have fallen sharply this week, with more than $20 billion wiped from the combined value of all cryptocurrencies over the last seven days.

The bitcoin price this week dropped below the $7,000 mark to trade at its lowest since May, when rumours surrounding Facebook’s planned bitcoin rival sent the price soaring.

[Update 3:20pm EST 12/18/2019] Bitcoin staged a remarkable recovery today after a heavy sell-off earlier in the week, climbing back above the psychological $7,000 per bitcoin mark.

The recovery today comes despite bitcoin and cryptocurrency market sentiment, measured by crypto trading platform SFOX, moving from bullish to neutral—somewhat dashing hopes that bitcoin could be boosted by a so-called Santa rally in the run up to Christmas.

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