Falling below $41,000 on Wednesday, bitcoin prices rollercoasting up with a 2.3% recovery, the cryptocurrency is back to trading at $44,234
Highlights: The price of Bitcoin recovered from its crash a day after it happened. The investors’ perception of the issue led to a debunking of the FUD. Also, the spot BTC ETF applicants’ statements regarding their plans to address the SEC’s concerns helped reassure investors. Bitcoin price dived below $40,000 on Wednesday, causing panic among […]
Highlights:
- After dropping below $41,000 yesterday due to the Matrixport FUD, the bitcoin price rebounded 3% on Thursday.
- In the last two days VanEck, Grayscale and Fidelity have filed to register with the SEC.
- After the SEC met with the NYSE, NASDAQ and CBOE exchanges to discuss the spot BTC ETF, the approval hype is in full swing.
The price of Bitcoin recovered from its crash a day after it happened. The investors’ perception of the issue led to a debunking of the FUD. Also, the spot BTC ETF applicants’ statements regarding their plans to address the SEC’s concerns helped reassure investors.
Bitcoin price dived below $40,000 on Wednesday, causing panic among investors. It recovered from its losses and is currently trading at around $44,234.
The price action has been maintaining the bullish divergence that was observed in the previous few days. This indicates that Bitcoin is on track to continue its upward trend and reach the top end of its recent range before the spot BTC ETF approval is received. It might encounter resistance at around $45,259, though a break above this level will allow further gains.
