RATE Group | Bitcoin Bull Case Builds as Price Holds $7,500 Range; What’s Next?
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Bitcoin Bull Case Builds as Price Holds $7,500 Range; What’s Next?

28 Nov Bitcoin Bull Case Builds as Price Holds $7,500 Range; What’s Next?

Posted at 12:19h in Bitcoin News by

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On Wednesday morning, it seemed as though things were about to go south for the Bitcoin market yet again. For those who missed the memo, notable Korean cryptocurrency exchange Upbit revealed that it had been hacked for $50 million worth of Ethereum (ETH), sparking an immediate 2% sell-off that some described as a “black swan” event that could tank this market for weeks.

Related Reading: Eerie Bitcoin Fractal Suggests Bottom in at $6.6k, Surge to $8k Likely

Contrary to these fears, though, Bitcoin jumped. In fact, after hitting $6,800 on Wednesday morning, the cryptocurrency shot all the way back up to $7,600 — a nearly 15% move. Though the bullish momentum has paused since then, with BTC falling slightly to $7,500, many say that the fact that Bitcoin has maintained its gains is a sign that a short-term bull case is starting to grow for the crypto market yet again.

Building Bitcoin Bull Case

Bitcoin’s bull case is rapidly building, according to an array of recently-published…

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