Here’s Why Bitcoin May Soon See a Sharp “Downside Flush” Despite Stability

JonnyMoe

Bitcoin has found some strong stability within the lower-$12,000 region following yesterday’s upswing Analysts are widely confident that it is currently caught within the early stages of its next bull run, which may ultimately lead it up towards its all-time highs Despite getting closer to these highs each week, there may still be some turbulence ahead for the cryptocurrency One analyst is noting that high funding rates for BTC on margin trading platform spell trouble for its near-term outlook He believes that BTC will soon see a sharp downswing that corrects this funding and brings it back to normal Bitcoin and the aggregated cryptocurrency market have been seeing some strong price action in recent weeks, with BTC pushing to fresh yearly highs yesterday while many altcoins extend their parabolic momentum. Analysts are now widely noting that they expect the cryptocurrency’s strong uptrend to persist in the mid-term, with its underlying…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE