As the digital dust begins to settle from the Bitfinex and Tether fiasco analysts are looking for clues as to where Bitcoin prices could be heading next. Many have viewed the recent events as bearish and the instant reaction of crypto markets on Friday coupled with the media FUD storm appear to have confirmed it.
After hitting a new 2019 high on Wednesday of $5,650 many were hopeful of a push past the 50 week moving average and on to $6,000. By the end of the week Bitcoin had dumped to $5,180 losing around 8 percent. BTC has recovered marginally however and held above $5,250 for the past 24 hours.