Analyst says Bitcoin price sell-off may occur as Chinese New Year



Analyst says Bitcoin price sell-off may occur as Chinese New Year approaches

On Jan. 29 (BTC) price briefly rallied to $38,500 before retracing the move and spending the majority of the day struggling to reclaim $35,000.

The wild breakout in Bitcoin price has partially been attributed to Elon Musk changing his Twitter profile to simply “#Bitcoin,” which Musk subsequently followed up with a cryptic tweet saying “In retrospect, it was inevitable.”

Daily cryptocurrency market performance. Source: Coin360
Bitcoin miner’s outflow. Source: CryptoQuant
daily chart. Source: Coin360

Continue Reading on Coin Telegraph

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Read More: Analyst says Bitcoin price sell-off may occur as Chinese New Year

analystBitcoinChineseoccurPriceSelloffyear
Comments (0)
Add Comment