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Monday, September 20, 2021

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Bitcoin achieves the rebound and consolidates at $ 47,000

From the point of view of technical analysis, the rebound of the Bitcoin It is framed in a consolidation movement between US $ 45,000 and US $ 50,000, which has the potential to be prolonged over timeaccording to Oanda analyst Edward Moya. However, the expert warns that the cryptocurrency is not out of danger of piercing US $ 44,000, which would precipitate further falls towards the area of ​​US $ 41,000-US $ 41,500, he indicates. José María Rodríguez, technical analyst at Bolsamanía.

According to Forbes, last week’s crash wiped out about $ 300,000 from the combined market for Bitcoins and cryptocurrencies, which currently hovers around $ 2.1 trillion.

Now, the data has revealed that the reserves in the crypto brokers of Bitcoins, that is, the amount of bitcoins on Coinbase, Binance and other similar platforms has fallen to a lower level than in November last year, when the price of the currency began its huge bullish rally that peaked at almost $ 65,000 in April.

This data is contrasted with the activity of the so-called ‘whales’, which has rebounded. The volume of transactions over $ 10 million has increased significantly over the weekend indicating deep market movements, explained analysts at the Belobaba Fund. At the same time they maintain: “An increase in the flow of capital towards the exchange platforms is not seen, which is always a first step to see large movements, which makes us think that we are not yet in the moment or in the necessary disposition to see a new ‘bull-run’ ”.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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