BTC/USD back to the up trend


At the end of the working week, Bitcoin and altcoins demonstrate attempts to return to growth. BTC adds more than 2% over the past 24 hours, breaking the $8,000 threshold at some point. The Bitcoin settled during the week after a rollback from $9,000 to $7,000. No matter how paradoxical it may sound but correction and consolidation in accordance with the forecasts went as a positive factor for market participants, confirmed the retention of technical patterns. According to this pattern, after a rollback, the market will once again return to growth, said Steven Sanders senior risk manager at crypto trading platform.

As is often the case during the consolidation period, the collision of bulls and bears has intensified. Both sides have arguments in favour of one or another position: technical indicators, patterns, historical references, moods. In this cycle, Bitcoin will have to prove or disprove the assumption that digital currencies fall under the framework of the development of a traditional asset. If so, then this means a tendency to grow over a long time period but does not exclude prolonged corrections, thinks Sanders from

According to another specialist opinion, the senior trader John Todorov from said that the largest BTC wallets continue to attract huge funds. Since early June, they have grown by 340,000 BTC ($2.72 billion). A significant part of these funds credited to the cold wallets of crypto exchanges, which again creates the basis for large-scale speculations regarding a future of the asset. �u)�J


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