RATE Group | Why The Bitcoin Price May Be Headed For A Great Few Months
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Why The Bitcoin Price May Be Headed For A Great Few Months

02 Oct Why The Bitcoin Price May Be Headed For A Great Few Months

Posted at 03:16h in Bitcoin News by

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In a new report, digital asset research firm Delphi Digital has shared some trends that could help predict where the Bitcoin price is headed this month. While Bitcoin dipped more than 15% in roughly an hour last week, the cryptocurrency has since recovered from those lows below $8,000.

Delphi Digital laid out both bullish and bearish trends in their recent report. Additionally, the digital asset research firm pointed out that those who are bullish over the long term should be happy to see these lower price points.

“[Those] with long-term conviction in this asset class should welcome this pullback with open arms as it presents an opportunity to buy or add to existing positions at lower prices,” says the report.

The Good News

In terms of the reasoning behind Bitcoin’s multiple, sudden price drops last week, many of those who shared their opinions on Crypto Twitter were blaming Bakkt’s lackluster launch. However, Delphi Digital does not agree with that assessment.

“Many…

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