Bitcoin as the number one cryptocurrency by market cap was crushed within the past week with three major sell-offs when its price dipped below the $3,481 price level. In today’s bitcoin news we can gladly say that the markets are turning green and BTC is back up.
Monday is a great day for bitcoin since the price for the biggest digital asset increased up to $3,712 after falling below the $3,500 price point. The recovery was noticed in other cryptocurrencies as well such as Ripple rising 2.4 percent and ethereum rising by 6.4 percent.
The best performer turns out to be TRON which leaped by 11 percent after the criticism of the former employee of BitTorrent.
It is still not quite clear that boosted the market though some analysts think that this could be a result of the growth in trading volume.
However, many other analysts such as bears like Mark Dow and bulls like Willy Woo, think that they identified the technical and most important weakness that could lead the bitcoin price to drop at least in the immediate future.
It is important to notice that cryptocurrency isn’t the only asset trying to recover from the previous slump. For example, the Dow Jones Industrial Average traded really low at 230 points in the pre-open futures market but has since trying to cut back the losses after the United States President Donald Trump stated that China and the US are really close to making a trade deal.
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