Bitcoin (BTC) headed towards $35,000 on June 9, boosted by historic news that El Salvador had made it legal tender.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTrader “not sure” if Bitcoin has bottomed
The #BitcoinLaw has been approved by a supermajority in the Salvadoran Congress.
62 out of 84 votes!
— Nayib Bukele (@nayibbukele) June 9, 2021
As reactions celebrated the decision by El Salvador’s parliament, traders remained edgy. As Cointelegraph reported, expectations call for a short-term return to $35,000 before a reversal and deeper BTC price dip takes hold.
“Bitcoin printing a higher low, expecting some more bounce today,” popular trader Crypto Ed summarized on Twitter.
“Not sure yet if bottom is in, will update later today.”
A starker warning had come from trader Crypto Cobra, who this week repeated forecasts of a significant write-down across cryptocurrency. This, he said, could