RATE Group | Bitcoin Price Refusing to Stay Under $8K a ‘Sign of Positive Change’
37137
post-template-default,single,single-post,postid-37137,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Price Refusing to Stay Under $8K a ‘Sign of Positive Change’

31 Jul Bitcoin Price Refusing to Stay Under $8K a ‘Sign of Positive Change’

Posted at 10:58h in Bitcoin News by

[ad_1]

BTC price has once quickly recovered above $8,000, which Fundstraat Chief Analyst, Tom Lee, believes is a sign of “positive change” in the crypto market.

Bitcoin Knocked Down, But It Gets Up Again

Just like that Chumbawumba song from the late 90’s — Bitcoin price keeps getting knocked down, but it gets up again. Yesterday, Bitcoin once again pared its losses from another dip below the $8,000 mark. Following a nearly $400 drop, Bitcoin bounced off $7800 support and is now trading at 00.

However, last week’s similar drop, purportedly due to the SEC’s rejection of the Winklevoss’ Bitcoin ETF, took almost a day to recover compared to mere hours yesterday.

Bitcoin ETF CBOE Announces Increased Bitcoin Futures Margins Amid Market Manipulation Worries

In any case, the bulls seem to have shrugged off the news because CBOE’s VanEck/SolidX Bitcoin ETF proposal — the one that everyone’s actually excited about — is still due for a decision sometime in August, though a postponement is likely.

But if last week’s drop was attributed to the rejection of the ETF…

[ad_2]

Source link

Tags:
, , , , , , ,