Bitcoin Bears Disappointed! Here’s The Sudden Rise Of BTC

Bitcoin price managed to make a sudden recovery after it came very close to losing the $40,000 support.

The cryptocurrency hit an intraday high of $43,780 on the Bitstamp exchange, gaining more than 7% in less than two hours.

>As we recently reported, crypto exchange Huobi announced yesterday that it will suspend the accounts of all existing Chinese users by the end of 2021, after it stopped accepting new customers from China. The Huobi announcement caused Bitcoin to drop to an intraday low of $40,808, but buyers quickly stepped in to save the day.

It’s been a tumultuous week for the leading cryptocurrency. Earlier in the week, real estate giant Evergrande’s debt crisis, which put global markets in panic mode, was hit by Bitcoin and fell 8%. After gaining a significant portion of losses until Tuesday, it fell further on Friday after China intensified its crackdown on crypto trading and the local crypto mining industry. Volatile week continues to show itself.

Finally, at the time of writing, Bitcoin is trading at $ 43,167.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.

source site