Here’s Why Analysts Aren’t Convinced of Bitcoin’s Rally Just Yet

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Bitcoin and Ethereum have undergone strong rallies over recent weeks since their September lows. BTC currently trades for $16,000, far above the $9,800 lows seen in September. Other assets have also ripped higher. Not everyone is convinced that this rally will continue, though. One analyst explained that with the second wave of the pandemic sweeping the world, along with Ethereum and Bitcoin running up against a key resistance level, a drop could follow suit. Bitcoin’s Rally Might Soon Reverse Due to Macro Factors Bitcoin and Ethereum have undergone strong rallies over recent weeks since their September lows. BTC currently trades for $15,900 after falling as low as $9,800 during the September drop. Ethereum, on a similar note, now trades at $480 after bottoming at $315. The bounce has been a decisive win for bulls, allowing both BTC and ETH to secure key support levels. But now everyone is convinced that…

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