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‘Increasing buying power’ and how it will be key to Bitcoin’s recovery
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Hovering around local bottoms, defying that trend, visiting pre-set records, hitting new highs, and then consolidating – That is how the past fortnight has been for Bitcoin. This was the case for a host of major altcoins like Ethereum, Avalanche, and Loopring too. Even their prices have been swinging up and down, without taking a definitive turn yet.
The last day has, nevertheless, been the most devastating, with most cryptos noting long red candles on their charts. Bitcoin, in fact, briefly dunked to a level below $60k for the first time since 28 October. The broader sentiment, in effect, has already flipped to bearish.
At this point, however, it doesn’t look like the current trend will be able to prolong itself. Assessing the change in the
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