As of writing, the world's largest cryptocurrency by market capitalization is changing hands for $6,495, as per the CoinDesk Bitcoin Price Index. According to CoinMarketCap, the bitcoin-U.S. dollar (BTC/USD) exchange rate has dropped by 1.74 percent in the last 24 hours.
Still, the small decrease hides the fact that BTC retraced more than 50 percent of its recent sell-off yesterday. In the time since, the downside has been capped around $6,400, while a ceiling has formed around $6,800.
So is the short-term bottom in place?
Source
https://www.coindesk.com/bottom-in-place-bitcoins-price-needs-to-consolidate-gains/
