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Bitcoin Will Recover, But New Highs Unlikely; Retailers Eye Expansion
On 6/3/21 at 4:32 PM EDT
CryptoCorner
Bitcoin may be poised to move higher, but it won t be a meteoric rise, and any increase will be well below the cryptocurrency s all-time high. The world s leading crypto by market cap has rebounded and traded in a narrow range after falling as much as 50% from its record high last month.
However, Bitcoin mining activity suggests a move above $40,000 is possible.
Several on-chain and network indicators have reflected a bullish skew over the week, albeit most being relatively neutral for the short and medium-term, Lennard Neo, a certified financial analyst and head of research at Stack Funds in Singapore, said in a research report. ....

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