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James

Crypto Rollercoaster: Explaining the Recent Market Performance

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https://www.ccn.com/crypto-rollercoaster-explaining-the-recent-market-performance/

Just when it appeared that the cryptocurrency market was about to bottom out just a fortnight ago (with Bitcoin reaching a reported 14-month volatility low), the market subsequently started displaying indicators of a directional shift.

Last week however, we saw a short-term appreciation in value. In typical crypto fashion it was just as rapid if not more so than the recent decline and Bitcoin, in particular, was observed to have exceeded “a key resistance level at $7,000 after breaking out of the $6,800 mark… crucial for the short-term recovery of Bitcoin.”.

Right now however, we are looking at what some mainstream media organisations have described as an ominous price-crash: if not full-blown ‘meltdown’.

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