A bit of bearish momentum seemed to affect most of the cryptocurrency markets yesterday afternoon and evening. Roughly 24 hours later, and all of those woes are well behind us. The Bitcoin price is moving up once again and has already reclaimed the $5,500 level without any problems. This offers some short-term hope for speculators and enthusiasts.
Bitcoin Price Momentum Returns in Bullish Fashion
Not too many people will be surprised to learn yesterday’s market dip was a very brief one. As there was no real reason for Bitcoin – or the alternative markets – to retrace all that much, it appears to be a temporary correction which can work out quite well. As Bitcoin is now surging ahead again, things have begun looking up for all markets in quick succession.
Over the past few hours, the Bitcoin price has successfully surpassed $5,525 following a 1.35% increase in value. A more than respectable bounce, although the push back to $5,600 might not necessarily be too easy. Slow and steady often wins the race where financial markets are concerned. It has been a good month for the world’s leading cryptocurrency, thus some stability wouldn’t hurt either.
On social media, there are plenty of people keeping tabs on any Bitcoin-related coverage by mainstream media outlets. Since those companies don’t always have the best of reputations, some posts will be shut down pretty quickly. Elmo isn’t too happy with CNBC’s recent coverage of a wealth manager dissuading people from buying Bitcoin, as the manager is a blockchain believer and expects crypto to fail. A valid sentiment, but one that will also be criticized.
#Bitcoin is blockchain moron. “Bitcoin is THE Tv”