Hopes of a lower priced Bitcoin for better accumulation opportunities are fading. It has been clear from the crypto twitter verse that many had been waiting for a drop back to $6,000 to load up again but the opposite has happened this morning as BTC surges back towards $8,000.
Bitcoin has spent most of the past 24 hours trading sideways at $7,300. Daily volume has trailed off somewhat dropping to a low of $20 billion and indicators were starting to signal another drop. Many analysts had predicted a plunge to support at $6,400 or below. Talk of a bull trap and BTC reaching its top were reported by EWN just a few hours ago. Some were stating that Bitcoin was extremely overbought and a plunge was imminent.