Here’s Why Bitcoin Hasn’t Nuked Lower Despite Barrage of Bearish News

BTC 980x354

Many analysts and investors have been quite surprised at how stable Bitcoin’s price has been despite a plethora of bear-favoring developments within the markets From a macro perspective, President Trump’s recent viral diagnosis has rocked the traditional markets, which has had a trickle-down effect on crypto Within the crypto market, the recent $150m KuCoin hack, as well as the government’s charges against the BitMEX founders, have both spooked investors Despite all these factors placing pressure on Bitcoin, the cryptocurrency has yet to plunge lower One analyst is noting that there’s a simple explanation for why this is the case Bitcoin has seen a jarring past couple of weeks, with buyers and sellers both being unable to garner control of its mid-term outlook. Bears have been attempting to push BTC lower, but so far, they have been unable to push it below any crucial levels. This has been quite surprising to…

Read the original article here