bitcoin

Recovery for bitcoin after yesterday’s volatility

Bitcoin fell almost 10% yesterday before recovering fairly strongly after the FBI managed to recover some of the bitcoins involved in the hack of the Colonial Pipeline Company (dedicated to oil pipeline systems). However, most general positive factors like expansion of transferable crypto interest schemes remain active.

Some analysts and traders have expressed concerns about the anonymity of transactions. Due to the generally strong correlation between most cryptocurrencies, Ether and Ripple among others accompanied the fall yesterday afternoon GMT.

BTCUSD is back above $35,000 at the time of writing, with $30,000 still clearly in view as a strong area of support. $39,000 appears to be the next significant local resistance.

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