Bitcoin Price Retains $7.5K After Bullish Breakout Upends Bear Market
William Suberg's original article for cointelegraph.com reduced by 71%
Bitcoin stayed around $7,500 on Nov. 27 after a surprise bullish reversal took markets $700 higher the previous day. "Earlier this year, bitcoin went from $4,000 to $14,000 in less than three months.
But one pullback, and everyone forgets," analyst Rhythm summarized about Bitcoin's movements in 2019. As Cointelegraph reported, institutional investors were piling into Bitcoin futures more than ever this week, with Bakkt's product setting giant daily trading records. Miners, too, still saw bullish potential in Bitcoin's short-term future, despite BTC/USD breaking below their assumed breakeven point over the past week.
Bitcoin's 8% daily gains ricocheted around altcoin markets on Thursday, with many cryptocurrencies gaining around 5%. Ether, the largest altcoin by market cap, was up 4.5% at press time, trading at $152.Ether seven-day price chart. The overall cryptocurrency market cap was $205.5 billion, back from losses that previously sent it under $190 billion.
Bitcoin's share totaled 66.5%.Keep track of top crypto markets in real time here.
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CN [too long; didn’t read]
Summarised crypto news.