RATE Group | Bitcoin Surges From $6,190 to $6,450 in Seconds, What’s Next For BTC?
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Bitcoin Surges From $6,190 to $6,450 in Seconds, What’s Next For BTC?

09 Sep Bitcoin Surges From $6,190 to $6,450 in Seconds, What’s Next For BTC?

Posted at 14:15h in Bitcoin News by

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bitcoin price

In seconds, the Bitcoin price has surged from $6,190 to $6,450, by more than 4 percent, after the dominant cryptocurrency remained in the low $6,100 region for more than 24 hours.

The sudden increase in the price of Bitcoin on September 9 was not expected by the majority of analysts and investors in the cryptocurrency market, primarily due to the sheer magnitude of its drop on September 5

Erik Voorhees Comment is Spot on

In previous market recaps, CCN consistently cited the statement of ShapeShift CEO Erik Voorhees, simply because it accurately summarizes the movement of the cryptocurrency market.

On August 25, on CNBC Crypto Trader, Voorhees said:

“I don’t expect it (bear market) to end soon, although I do think that the rate of collapse has slowed considerably. Generally in these bubbles, after you go through several months of a downtrend you hang out in a range for a while… But I think we are done with a majority of the collapse.”

Investors in the cryptocurrency…

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