RATE Group | Latest Bitcoin Rally is “Alive and Well” as Long as BTC Holds Above $8k
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Latest Bitcoin Rally is “Alive and Well” as Long as BTC Holds Above $8k

27 Oct Latest Bitcoin Rally is “Alive and Well” as Long as BTC Holds Above $8k

Posted at 19:43h in Bitcoin News by

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Bitcoin (BTC) has been on a wild ride over the past several days and weeks, as it has been able to post a meteoric rally from its recent lows of $7,300, which may signal that its recent lows are a long-term bottom that will be followed by significantly further gains.

One prominent analyst is now noting that BTC’s rally is currently strong despite its retrace from its recent highs, and is also noting that the rally will be alive and well so long as the cryptocurrency is able to hold above the lower-$8,000 region.

Bitcoin Surges Towards $10,000 as Bulls Extend Upwards Momentum

At the time of writing, Bitcoin is trading up roughly 4% at its current price of $9,500, which marks a significant climb from its recent lows of under $7,300 that were set just prior to the massive rally that came about this past Friday.

It is important to note that Bitcoin is still trading down from its recent highs of $10,600 that were set at the peak of the recent rally, and its retrace from these highs led…

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