Bitcoin climbed back past $20,000 to $20,534 per coin. The rebound comes after bitcoin fell as low as $17,601 Saturday evening. 0x_bae reports
, CIO of Selini Capital, told CoinDesk in a Telegram message. “They have to determine if they will get to buy another 20% lower, or if this is their chance. If they wait too long, they will have to chase higher.”
“The key question is whether the forced selling we have seen is wrapping up, or if there are still distressed sellers,” added Alexander.Early Saturday, the price of bitcoin plummeted below $20,000 and dipped as low as $17,601 later in the trading day. The drop also put bitcoinit notched in December 2017, a level many crypto traders believed bitcoin would not fall below.
Ether, the second largest cryptocurrency by market capitalization, enjoyed an even bigger rebound after falling as low as $880 on Saturday. As of press time, ETH was trading at $1,133, a 20% gain over the past 24 hours and a 29% gain off of its Saturday low.The Festival for the Decentralized World
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