Bitcoin Bottom Has Passed, Delphi Digital Says

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Bitcoin (BTC) saw a boost to its volumes in October, especially during the last volatile week of the month. Delphi Digital suggests more active trading may suggest the market bottom is already behind us. Bitcoin Found Bottom Above $7,400 BTC managed to bounce off a monthly low under $7,500, recovering to above $9,000. The leading coin avoided the most extreme scenarios of dropping to the $6,000 range, but also failed to rally to widely anticipated $16,000 level. In its latest ‘Bitcoin Outlook’ report, Delphi Digital has warned that the changed sentiment and heightened activity did not guarantee a permanent recovery of sentiment. A further slide and stagnation of volumes could spell a return to a new period of falling prices. Bitcoin volumes expanded from a regular daily activity of $15 billion to above $32 billion during the month’s peak rally. The volumes were fed by inflows of Tether (USDT) to…

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