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New Optimistic Buyers Flock To Bitcoin – Bitcoin Magazine

New Optimistic Buyers Flock To Bitcoin – Bitcoin Magazine

Bitcoin
August 3, 2022 by Editorial Team
5
This is an opinion editorial by Mike Ermolaev, head of public relations at the ChangeNOW exchange and a contributor for Bitcoin Magazine. A much-awaited recovery rally has occurred for bitcoin prices after a month of consolidation around $20,000. Interestingly, this coincides with the previous cycle peak in 2017. Short-term momentum remains favorable, while longer-term macro
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This is an opinion editorial by Mike Ermolaev, head of public relations at the ChangeNOW exchange and a contributor for Bitcoin Magazine.

A much-awaited recovery rally has occurred for bitcoin prices after a month of consolidation around $20,000. Interestingly, this coincides with the previous cycle peak in 2017.

Short-term momentum remains favorable, while longer-term macro indicators suggest a firmer foundation may take time.

Bitcoin’s 66% decline from its all-time high has largely evicted speculators, leaving only whales and those with strong convictions to hold.



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