Bitcoin Reaches Key Inflection Point, Fresh Bounce Shows BTC Is Ripe For $40k Breakout.
06 Feb 2022, 08:00
Bitcoin Reaches Key Inflection Point, Fresh Bounce Shows BTC Is Ripe For $40k Breakout
Bitcoin continues to grapple below $40,000 after a three-month-long freefall that saw the cryptocurrency shed 51% of its entire gains.
As of February 4, the price had recoiled to an intraday low of $37,923 before soaring to $39,515. In the wake of these movements, analysts are now sharing their sentiments on key variables affecting the asset, as well as where price could be headed with their fingers crossed.
According to Josh Olszewicz, head of research at Valkyrie Investments, Bitcoin’s recent movement is a pointer as to how correlated it has become with traditional markets.