Bitcoin Price Recovers from Crash
The Bitcoin price has increased by 2.87% in the past 24 hours to $115,063, indicating an early rebound from the recent crash caused by US-China tariff tensions.
Analyst Ted Pillows compared the current correction to March 2020, stating that such deep drawdowns typically occur before a strong reversal, not at market tops.
the recent BTC price structure strongly mirrors the March 2020 crash, which preceded a remarkable 1,500% rally from roughly $3,700 to $65,000 in April 2021.
The latest decline from $122,000 to $107,000 created a sharp wick similar to that Covid-era bottom, reinforcing a bullish long-term Bitcoin price prediction. The broader market is showing cautious optimism as global equities and crypto recover following easing trade tensions between the US and China.
Author's summary: Bitcoin price rebounds after US-China trade easing.
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