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Bitcoins Gains Come Just In Time For Christmas!

Bitcoins Gains Come Just In Time For Christmas!
  • Bitcoin has had a volatile past week, that’s for sure.
  • A harsh sell-off seems to in the making from the bears that has sent it as low as $6.4k over the past few days.
  • But a new rally has seen a breath of fresh air put into Bitcoin and just in time for Christmas no less!

Bitcoin has had a volatile past week, that’s for sure. A harsh sell-off seems to in the making from the bears that has sent it as low as $6.4k over the past few days. Well, this was before buyers got involved and triggered a big relief rally that threw the crypto back up to the $7k range.

As per CryptoSlate:

“This rally has lost its momentum today, as BTC is currently inching back towards its key support level at $7,000. In spite of this, analysts are noting that the current price levels could be prime opportunities to enter fresh long positions, as the crypto could be poised for significantly further near-term upside.”

Before we go any further though, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!

The new rally has seen a breath of fresh air put into Bitcoin and just in time for Christmas no less!

One prominent crypto technical analyst, Big Chonis took to Twitter to explain the movement in value. He said that he would rather take a look at entering a fresh long position at the current price of Bitcoin rather than short it.

He adds, “Bitcoin – looking for a long rather than a short rt now… #bitcoin.”

Price

In terms of price, the leading cryptocurrency is valued at $7,192 following a 1.31 percent increase over the past 24 hours.

It will be interesting to see how the price plays out from here. For more news on this and other crypto updates, keep it with CryptoDaily!

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