Bitcoin Price Clings to $6K Amid Warning 90% Recovery May Trigger Dip

Bitcoin (BTC) dipped below $6,000 on March 21 as an end-of-week rally to near $7,000 appeared to stall.

Cryptocurrency market daily overview. Source: Coin360

BTC price ruminates at $6,000

Data from Coin360 and Cointelegraph Markets put BTC/USD at a crossroads on Saturday, the pair circling the $6,000 mark in volatile conditions.

Markets had fallen as low as $5,780 — marking 24-hour losses of around 12% — before reversing upwards. 

Bitcoin 1-day price chart. Source: Coin360

As Cointelegraph reported, Bitcoin’s recovery was nothing short of miraculous — since it hit 15-month lows of $3,700 last week, the cryptocurrency at one point sealed 90% gains. 

While still lower than before coronavirus hit the global financial system, Bitcoin has once again demonstrated its worth as an investment versus other assets. Stocks remain stricken by recent events, while even gold failed to deliver the return to form that Bitcoiners have enjoyed. 

Going forward, however, the outlook remained…