Some analysts believe that Bitcoin is still in a consolidation range, and any confirmed bullish breakout could generate a quick spike to the $47k to $48k value areas.
The downside risks are significant as well because of some recent regulatory changes from China and India along with its adoption by high-risk groups such as drug dealers.Bitcoin is the currency of the digital age.
Digital assets have historically been well-received by investors, providing a new source of return in an otherwise stagnant market environment and making Bitcoin one such asset that has caught on with traders seeking to diversify their portfolio. With its decentralized blockchain distribution system, it’s no surprise then that bitcoin transactions are becoming more popular as investors decide they want to own this type of cryptocurrency too.
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Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
