Bitcoin Prices Rally More Than 20% After Market Rout-Here’s Why

Bitcoin Prices Rally More Than 20% After Market Rout-Here’s Why

This is a BETA experience. You may opt-out by Bitcoin prices bounced back today, after falling below $25, 500 yesterday. Bitcoin prices have bounced back lately, climbing more than 20% in under 48 hours after approaching the $25, 000 level. The digital currency, which is the largest when measured in terms of total market value, climbed to nearly $31, 000 earlier today, CoinDesk figures show. At this point, it was up 21. 9% from the price of $25, 402. 04 it reached early the day before, additional CoinDesk data reveals. While the digital currency did manage to recover some of the gains it has lost recently, it is still down more than 50% from its all-time high of nearly $69, 000 reached in November. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Several analysts offered explanations for these latest price movements, in addition to helping describe them relative to broader market trends. When clarifying these latest price movements, several analysts emphasized the key role of market sentiment. "As there are more investors and traders in crypto, especially a large overlap between