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Here’s Why Bitcoin’s V-Shaped Recovery from $3,800 Spells Trouble for What’s Next



Bitcoin has now entered a consolidation phase within the mid-$9,000 region following the meltdown seen yesterday
This has made it increasingly unclear as to which direction the benchmark cryptocurrency will trend over a mid-term time frame
One analyst is calling into question the long-term strength of BTC’s multi-month uptrend due to the “V-shaped” recovery it posted in mid-March when it dipped to lows of $3,800
He eludes to the possibility that this provided the crypto with a weak foundation upon which a sustained rally can’t be built

Bitcoin and the aggregated crypto market saw some calm overnight trading following the ...

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