Bloomberg report calls Bitcoin 'refreshed and discounted' as BTC price bounces at $36K

Bloomberg report calls Bitcoin 'refreshed and discounted' as BTC price bounces at $36K


Bitcoin (BTC) bounced off a predicted floor on June 4 as the dust settled on the latest market collision with Elon Musk.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoiners poke fun at Musk’s “break-up”

Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as the pair recovered to levels nearer $37,000 on Friday.

Trending: Multiple Individuals Push Multiple Ballots through Multiple Tabulators Multiple Times in Georgia. This Is Illegal. Law Enforcement Does Nothing.

Previous strength this week, which had seen a push toward $40,000, abruptly ended in defeat after Musk released another cryptic tweet. In it, the Tesla CEO appeared to suggest that he had moved on from Bitcoin to some form of alternative.

The market sold off, but the biggest casualties this time were altcoin traders. Bitcoin only fell by $2,000 — significantly less than during other episodes involving Musk’s tweets.

For popular trader Crypto Ed, who predicted that Bitcoin would need to hit $36,000 again anyway before continuing higher, the bottom was now in.

“Just need to reclaim some levels and we’re good to go again,” he said in comments on the market

Continue reading

You Might Like

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend