|More from: | Coindesk ||
Bitcoin’s price rose above $6,500 Thursday, offering some respite for the badly battered bulls.
The world’s largest cryptocurrency by market capitalization had fallen to $6,138 Wednesday at 16:00 UTC – its lowest level in 26 days, according to Bitfinex data. Yet, bitcoin’s price was last seen at $6,500, up 5 percent from its most recent low.
What to make of the move? Clearly, investors did not want to miss a small opportunity in the form of a pullback that started August 1 and lasted all of 10 trading days.
Supporting the view is that the broader market has seen an uptick as well, best depicted by the total crypto market capitalization, up $10 billion on the day where its value currently stands at
Read full article » https://www.coindesk.com/bulls-breath-sigh-of-relief-as-bitcoin-beats-6-5k-resistance/
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