Bitcoin Could Face a Pullback of 10-15%, Warns Exchange Exec

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Bitcoin has undergone an extreme rally over recent months, pushing to $28,000. Some fear that a pullback is starting to brew as the market shows signs of being overbought on a technical basis. Vijay Ayyar, head of business development with crypto exchange Luno in Singapore, recently said that he thinks the market is “close to a top.” Bitcoin Currently Preparing For a Correction, Some Fear Bitcoin has undergone an extreme rally over recent months. In the past seven days alone, BTC is up approximately 15%, pushing to new all-time highs at $28,500. Bitcoin is now up by over 150% in the past three months, having bottomed at $10,000-11,000 in September and October. While the medium-term to long-term trend remains bullish, some are fearful that a correction is loading. Speaking to Bloomberg, Vijay Ayyar, head of business development with crypto exchange Luno in Singapore, recently said that he thinks the market…

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