RATE Group | Something “Huge” is Brewing in the Crypto Market; Factors to Watch
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Something “Huge” is Brewing in the Crypto Market; Factors to Watch

29 Feb Something “Huge” is Brewing in the Crypto Market; Factors to Watch

Posted at 07:44h in Cryptocurrency News by

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It’s no secret that the past couple of weeks have been quite negative for Bitcoin and the aggregated crypto market, with many major altcoins incurring intense downtrends that have erased a significant amount of gains incurred throughout the first couple of months in 2020.

Most major cryptocurrencies, however, are now nearing critical support levels that could catalyze an intense relief rally.

These levels also seem to coincide with a massive pennant that that total crypto market cap has been caught within, leading one analyst to note that the market could be preparing for “something huge.”

Bitcoin and Crypto Market Near Key Support Levels That Could Spark Relief Rally 

At the time of writing, Bitcoin is trading down marginally at its current price of $8,730, which marks a notable climb from daily lows of $8,400 that were set when bears attempted to catalyze an intense selloff overnight.

Bulls were able to step up and absorb the majority of this selling pressure, subsequently…

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