RATE Group | How Bitcoin’s Daily Close Could Signal A Reversal Is Near
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How Bitcoin’s Daily Close Could Signal A Reversal Is Near

11 Mar How Bitcoin’s Daily Close Could Signal A Reversal Is Near

Posted at 17:22h in Bitcoin News by

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Bitcoin has been in a death spiral for the last two weeks, as concerns over the coronavirus continue to peak. The leading cryptocurrency by market cap has plummeted by over 20% in just two week’s time.

But after such a violent decline in such a short period of time, last night’s daily close may have given a signal of indecision and could hint that a possible, much-needed relief rally and reversal is near.

Coronavirus Concerns Continue to Crush Bitcoin Price, But Is a Reversal Near?

Bitcoin is an asset unlike any other and has had very little history in the financial market compared to the likes of the stock market, gold, and more.

The asset was created amidst the last recession and was designed with certain attributes to decrease the impact of future recessions should the asset ever fully come into favor over fiat.

But such a scenario is still ways off – if it ever comes to fruition at all.

Related Reading | The Real Reasons Why Bitcoin Price Has Plunged 25% in Two Weeks 

For now,…

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