CRYPTO NEWS - Bitcoin is Steady Near 57000 $
CRYPTO NEWS - Bitcoin is Steady Near 57000 $
00:12 Intro
01:45 Crypto News
04:17 Bitcoin News
06:48 Crypto Market News
08:15 Bitcoin is Steady Near 57000 $
09:03 Outro
Over the past week, bitcoin fell 2.30% to $57274. The range of the weekly candlestick was 10.4%. The weekly low was recorded at $53256. Friday's collapse was caused by a flight into defensive assets after the discovery of a new strain of COVID - 19. It was given the name "Omicron" after the WHO meeting. It has a large number of mutations, so experts assumed it was resistant to vaccines. Markets began to price in the worst-case scenarios: new lockdowns, a collapse of stock indices, and a drop in U.S. GDP.
With the news out of Israel, bitcoin recouped much of its late-week losses. Professor Dror Mesorach, head of the coronavirus department at Hadassah Ein Karem University Hospital, said preliminary reports on the clinical condition of people infected with the new variant were encouraging. Previously, experts had commented that Omicron might be weaker than Delta because of the large number of mutations.
At the time of writing, the Binance exchange is trading at $57143 per bitcoin. A pinbar has formed on the weekly timeframe. It's a bullish signal that indicates buyers are ready to take the price back to the $65k level. Despite the 9% rebound, buyers are showing their weakness. While they gained some speed, they have to break through two levels: $60,000 and $1400. If the price fixes above $61500, we can expect the rally to continue till the end of the year.
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