2021-05-27 15:51:02
Bitcoin Remains Choppy as Consolidation Sets In
Bitcoin (BTC) and the rest of the cryptocurrency industry slipped lower in the early hours on Thursday. However, the cryptocurrency did not fall to its recent lows as most traders are optimistic that BTC is recovering.
Bitcoin fell to the $37,120 low in the Asian session today, while Ethereum (ETH) fell by about 8% to $2,642.
Analysts asserted that the fall felt relatively mild compared to the recent market crash, though concerns about regulatory attention and wavering enthusiasm from Tesla CEO Elon Musk places the market under duress.
Nonetheless, Kyle Rodda, IG Markets analyst, asserted that "the big cleanout has probably occurred," as market volatility has calmed significantly.
The analyst noted that "people lose patience and bail along the way, but ... it looks like it’s starting to form a...
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