Bitcoin Hits 15-Month High As Naysayers Double Down on "Dead Cat Bounce"

Bitcoin (BTC) stuck around $ 10,850 on June 24 after a new increase took it over $ 11,000 for the first time in over a year.

  Market Visualization "src =" /storage/uploads/view/cbc34f3fee5df1e210bea7d3c1d6d277.png "title =" Market Visualization "/> </p><div class=

Market Visualization with Coin360

Data from Coin360 showed a small correction for bitcoin on Monday, markets consolidate gains after a dramatic weekend.

BTC / USD had climbed as high as $ 1[ads1]1,230 in recent days, marking its best performance since early March 2018.

The action went not unnoticed, with common media titles that seem to struggle to explain the return of a cryptocurrency they had previously announced anything but death.

Many quoted traditional finance sources claiming that today's bull-run is doomed to fail and that bitcoin investors will eventually lose everything in fiat

"Don't get fooled by the dead cat, jump this year," said Whitney Tilson, founder of Empire Financial Research and a former security fund manager, quoted by Bloombe rg.

"Mark my words: A year from now it will be much lower. This is a techno-libertarian pump and dump scheme that will end in ruin."

Bitcoin's weekly winnings are currently over 17% while monthly returns are close to 35%.

  Bitcoin 7-Day Price Chart "src =" "title =" Bitcoin 7-Day Price Chart "/> </p>
<p dir= Bitcoin 7 Days Source: Coin360 [19659004] Altcoins went slightly worse as BTC / USD was corrected, with many in the top twenty of the market cover throwing 2-3% for 24 hours to print the time.

Ethereum (ETH) fell 3% to beat $ 306, while Ripple (XRP) traded 5% lower to just over $ 0.45 per token, Tron (TRX) was a belief, increasing by 3.1% after the network launched its first stablecoin asset

  Ether 7-day pricing chart

Ether 7-day pricing chart Source: Coin360

The overall market for the cryptocurrency market is now comfortably over $ 300 billion, and Bitcoin's weekend pattern further expands its market dominance to more than 59%

As Cointelegraph reported, several important factors suggest the greatest e crypto curve's long-term path

Source link

Back to top button

mahjong slot