Too much of news about bitcoin(Chinese bitcoin bank, Korean ICOs ban, Jamie Dimon(JP Morgan), Goldman Sachs, ) kept the news flow busy attracting more of speculators. Despite all the negative speculation and panic dip below 3000 USD bitcoin price holds up with a strong bounce back.
However the long term story of bitcoin remains intact. Nothing got changed the underlying story about the bitcoin bubble.
Now bitcoin is on the verge of the major resistance zone 4300-4400 zone. Volatility in the bitcoin though got reduced though in the recent rally towards 4400. Price holding below 4300 indicates a potential short term trend reversal.
Its a hope recovery stage though!
However the long term story of bitcoin remains intact. Nothing got changed the underlying story about the bitcoin bubble.
Now bitcoin is on the verge of the major resistance zone 4300-4400 zone. Volatility in the bitcoin though got reduced though in the recent rally towards 4400. Price holding below 4300 indicates a potential short term trend reversal.
Its a hope recovery stage though!
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