Bitcoin (BTC) Bottoming At $3,100 Might “Make Sense”

Ever since Bitcoin (BTC) dramatically rebounded off $3,150, propelling itself above $4,000 in the week that followed, some have wondered where the bottom really lies for this cryptocurrency market phase. Anthony Pompliano of Morgan Creek Digital doubled-down on the idea that a $2,500 BTC was likely after the recovery, and other pundits were just as wary.

But, with the recent surge, which pushed BTC past key resistances at $4,000, $4,200, $4,600, and even the low $5,000s, some have begun to change their mindset. Josh Rager, a team member at crypto exchange startup Level, recently claimed that after some thinking about Bitcoin’s potential bottom, $3,100 might have been it “for two reasons.”

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