The Bitcoin price surged by more than 191 percent in the past three months.
A confluence of key fundamental and technical factors pushed the price of Bitcoin up in a short period of time.
On June 2, the price of Bitcoin abruptly fell by 14% against the USD.Bitcoin price is below $10,000 again, now what?
If the price of Bitcoin remains above $10,500 over the next week, it will confirm a breakout above a multi-year cycle dating back to 2017.
Global Macro Investor CEO Raoul Pal emphasized that Bitcoin is breaking out of a three-year trend.
"No big deal. Here is bitcoin breaking out."
The price of Bitcoin plunged from $10,440 to $8,600 within minutes, demonstrating a brutal rejection.
In February, less than four months ago, the price of Bitcoin reached a local peak at around $10,550.
Longs account for 72 percent across the big three Bitcoin futures exchanges: BitMEX, Bitfinex, and Binance Futures.
Market data shows more than 70 percent of contracts in the Bitcoin market are longs.
Beginning of the greatest Bitcoin bull trap? BTC vulnerable after 191% upsurge
gepubliceerd op Jun 2, 2020
by Cryptoslate | gepubliceerd op Coinage
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