The post Bitcoin’s V-shaped recovery could put BTC on path to new all-time high — Analysts appeared on BitcoinEthereumNews.com.

Bullish traders bought Bitcoin’s recent dip, possibly setting BTC on the way to a new all-time high. Bitcoin’s (BTC) price has displayed a V-shaped recovery on the daily timeframe from its recent multi-month low below $50,000, leading analysts to believe that a sustained uptrend would see BTC hit new all-time highs.  “Bitcoin did provide a V-Shape recovery, through which this correction and crash due to Jump Trading selling crypto assets is comparable to COVID-19 –> A Black Swan,” MN Capital founder Michaël van de Poppe said in an Aug. 9 post on X. In an earlier X post on Aug. 5, van de Poppe entertained the possibility of the recent crash to $49,577, defining the bottom for Bitcoin before it embarked on a V-shaped recovery back to pre-crash levels. Read more Source: https://cointelegraph.com/news/bitcoin-s-v-shaped-recovery-could-put-btc-on-path-to-new-all-time-high-analysts?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound

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Filed under: News - @ August 10, 2024 10:14 pm