BTC Newsletter: Is Bitcoin Recovering?

Crypto users and enthusiasts believe that most of the cryptocurrencies including Bitcoin are having their values manipulated by crypto exchange whales. The recent uptrend in the price of bitcoin has its connections to the $50 Million in Tether (USDT) being transferred to Bitfinex. For others, the ups and downs are an expected result of a prolonged bear market because of those who buy high and sell when BTC seems to sink.

The price of Bitcoin is again swiveling around the $6,500 which is not necessarily a bad thing – especially not after the recent market downturn. Over the past 24 hours, it seems like the BTC price is quite stable.  Right now, the ideal scenario is for Bitcoin to remain stable in the $6,000 region. As such, it would establish a solid foundation for a big rally in the short-term. a new drop would be a likely scenario for Bitcoin and the entire crypto market before a proper rally comes on the way. This is mainly due to the lack of momentum, volume, and stability in the market.

If you have a look at the other BTC newsletter that we posted a few days ago, according to many analysts, there is a likely scenario that the rest of the crypto market will go through another major drop but it will demonstrate stability. The increasing demand for Bitcoin as the most powerful and most dominant cryptocurrency on the market proves there is a lack of confidence from investors that want high-return investments.

It is very possible, however, that Bitcoin could likely continue its corrective rally and will make a strong comeback before the next plunge. Make sure to check our BTC newsletter every week and follow updates on Bitcoin and the entire crypto market as well.