Strong And Short Bitcoin (BTC) Rebound Coming Soon?

In the midst of an unfavorable macroeconomic scenario, the market is desperate for a Bitcoin rebound. In the recent weeks, the Bitcoin (BTC) price movement and trading activity has been quite stagnant. After falling from the $22,000 range last month, BTC continued to fluctuate around the $19,000. Overall, a prolonged sideways movement in BTC price pattern meant huge anticipation for a rally at least in the short term.

The sluggish BTC movement comes at a time when there is a global financial instability. For close to four months now, the market marred with several setbacks has been experiencing a crypto winter situation. The downfall started earlier this year when the Terra collapse led to a crypto freefall. Since mid-June, the BTC price has fluctuated around the $20,000 mark with occasional exceptions.

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.