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RE: Bitcoin Market: Another Dead-Cat Bounce?
The weekend provided Bitcoin with a positive bullish movement back towards the expected reversal area of $7,800. After the huge market manipulations we saw over the previous week, i believe we could still see a potential reversal back towards the $6,000 region before the bullish run begins.
Bitcoin price rose 1.79% overnight, outlining the hope manipulators have created inside investors minds to invest after manipulating the market into believing that this bear run is finally over. although we still could see prices rise another $150 in a short space of time, the area of $7,800 could prove a major turning point in this believed bull run.
Definitely whales trying to resuscitate the market, it would take quite a bull-run to bring lots of new money back into Bitcoin though...
Waiting for the ETF decision to make a final judgement.
I agree. The market needs alot more then a pump to jump start the anticipated bull run! There has been lots of promising signs coming in over the past few weeks!
I doubt SEC will approve an ETF before FATF gives its recommendations at the G20 in October.