Bitcoin Didn’t Plunge Despite 3 Bearish News Events—and That’s Bullish


Bitcoin’s price has dropped since the highs of this week close to $10,900. As of this article’s writing, the leading cryptocurrency trades for $10,500, a few percent shy of those highs. Despite this, Bitcoin is actually holding up better than some first thought it would. The cryptocurrency’s ongoing decline comes in the face of a number of fundamentally bearish trends for BTC and the rest of the industry. These trends are the hack of KuCoin for over $200 million in cryptocurrency, BitMEX getting charged by American regulators, and President Trump catching the illness circulating the globe. Analysts think that Bitcoin dropping a mere 3-4% in light of these news events is bullish. In late-August and early-September, the cryptocurrency lost 20% due to failed stimulus talks. Bitcoin’s Resilience In Face of Three Fundamentally Bearish Events Satisfies Analysts Bitcoin currently trades for $10,550, down a handful of percentage points from the weekly…

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