RATE Group | Market Mostly Trades Sideways as Bitcoin Price Hovers Around $7,300
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Market Mostly Trades Sideways as Bitcoin Price Hovers Around $7,300

04 Dec Market Mostly Trades Sideways as Bitcoin Price Hovers Around $7,300

Posted at 00:38h in Bitcoin News by

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Tuesday Dec. 3 — Most cryptocurrencies continue trading sideways, including Bitcoin (BTC) which has not been able to find higher trading levels in the past few days.

Cryptocurrency market daily overview. Source: Coin360

Bitcoin started the day at $7,344, at which point the world’s largest crypto coin found an intra-day low of $7,230 before moving up again to the exact same trading price near $7,340. After a sluggish 24 hours, BTC is showing a gain of 0.5% for the day.

Bitcoin daily price chart. Source: Coin360

Bears target BTC at $5,000

Cointelegraph contributor Benjamin Pirus wrote that after BTC’s corrective bounce up to $7,875 last week, Bitcoin was unable to shake its larger downtrend. Instead, it headed back down to the $7,300 trading region. Pirus added that BTC could ultimately drop to a trading price near the $5,000 price mark, as its charts look mostly bearish at present.

Meanwhile, Ether (ETH) continues to trade in sync with Bitcoin. The top altcoin bounced off its daily…

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