Bitcoin Being Bitcoin
This morning was a good lesson for those new to Bitcoin – and maybe some who haven’t been weathered as they should. Bitcoin dipped to under $48K – and quickly rebounded back to $54K. In that time, many a “news” source took the time to publish the usual “The sky is falling” articles, going from blaming Elon Musk to the usual bs. Smart Bitcoiners hodl’d, some who were awake took the opportunity to stack the sats. Sadly, some sold their Bitcoin and I guarantee you some billionaire was more than willing to scoop it up.
Bitcoin prints biggest hourly candle in history after BTC rebounds strongly to $54K
“Data from Cointelegraph Markets and TradingView shows BTC/USD falling heavily during Monday trading, hitting lows of $47,400.
After reversing at all-time highs of $58,312 on Sunday, Bitcoin fell almost $7,000 in under an hour, sparking intense volatility, which continued at the time of writing.
‘Almost a $7,000 hourly candle. That has to be by far the largest hourly move in history,’ analyst Scott Melker reacted.
Earlier, Cointelegraph Markets analyst Michaël van de Poppe highlighted the area between $50,500 and $52,000 as being crucial to hold in order to preserve the chances of the bull run continuing in the short term.
In fresh analysis on Monday, he noted that historically, this time of year is not when crypto markets put in their strongest performance.
At the time of publishing, Bitcoin had recovered to trade back above $53,000.”