In the past 24 hours, the bitcoin price has remained relatively stable at $5,000, at one point briefly surpassing $5,100 following a rebound from $4,900. On April 12, bitcoin experienced an 8 percent fall from over $5,400 to around $4,950 in most major crypto markets, demonstrating a relatively large retracement. However, the 8 percent correction in the price of bitcoin comes after a strong 28.5 percent rally from $4,200 to $5,400, which many analysts including Alex Krüger have said pulled bitcoin out of its 16-month bear market. “This is not a call. Not a matter of aging well or not.
The post Bitcoin Back Above $5,000: Why Traders Lean Toward Optimism This Weekend appeared first on CCN
* First published on ccn.com