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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