3 Things Holding Back Bitcoin Price From $7K Right Now

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Bitcoin has slowly regained value after its major correction two weeks ago. It now appears on the cusp of breaking USD $7,000 yet every gain is followed by a short correction. A series of factors keep preventing it from breaking this important price line. GLOBAL MARKET UNCERTAINTY Every commodity market has been shaken over the past few weeks. There is no shortage of investors eager to take advantage of discount prices, yet fear more volatility. Ironically, the price recoveries over the past few days increase this fear, as retracements often follow such moves. In this context Bitcoin is no different than precious metals or stocks, both of which are experiencing a slow recovery from the recent crash. Bitcoin approached the $7,000 barrier yesterday, indicating that plenty of crypto adopters are eager to drive the price higher. Many merely need to overcome their fear that the price could once again collapse.…

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