Bitcoin proved that the smooth uptrend since late October was just a long consolidation before a new upward spurt. Bitcoin has added over 11.5% since Friday, surpassing $42K at one point on Monday. While Bitcoin is overbought on daily timeframes, this is not necessarily a reason for a correction. In this mode, the first cryptocurrency can move for many more days, drawing more and more layers of investors into FOMO. Technically, up to $46K is thin-air territory for Bitcoin, and price swings between $40K and $46K can be pretty wild.
Why You Shouldn t Ignore Bitcoin thenews-chronicle.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews-chronicle.com Daily Mail and Mail on Sunday newspapers.