[2018-01-18] Bitcoin is making a comeback

[moriskarlov]

Cryptocurrency dip buyers have returned after Bitcoin crumbled through key support and hit a low of less than $10,000 overnight.

But the gains seen earlier this morning have solidified in Asian trade, and Bitcoin has now bounced by almost 20% today off its overnight low.

And the buying has extended to all the major alt-coins, following the sector-wide selloff which over the previous 48 hours saw heavy falls across the board.

The selling was attributed to a number of factors — ranging from a regulatory crackdown in Asia, giving rise to lower trading volumes, to simply just a long-overdue market correction.

But for the time being the panic has subsided. As usual, Bitcoin prices vary significantly between different exchanges but a short time ago, Bitcoin was sitting comfortably above $11,000 on the US-based Bitfinex exchange:



Source - http://uk.businessinsider.com/bitcoin-is-making-a-comeback-2018-1?r=US&IR=T

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[Kemarit]

Not only bitcoin, but the whole crypto is making a rally, although its too early to tell. I saw the price rally to $11,500 before settling below $11,000 and then increasing above $11,000. Looks like resistance at $11,000 is strong and so I'm waiting for bitcoin to consolidate and test a run for $12,000 and then we will see how it goes. We all know that sooner or later bitcoin will rally back and the bullish sentiments will re-surface. How many times we reiterate that we should hold on this kind of situation, but newcomers started to panic pulling the price. But never did they know that bitcoin can rebound anytime now and such compassion to them if bitcoin recovered and march towards $20,000.