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BTC back above 52k now but will it last ?
Since the last update here on Bitcoin, where the prospect of it falling below 50k was covered, the lead coin did take that level out and duly fell below 49,400. However, since then it has been on the rebound and that recovery has just now seen BTC rise above 52,500. The question right now; is will it extend further to the upside and sustain the recovery, or will another wave of risk aversion serve to send it tumbling back down again? It looks more like the latter right now, but of course so much depends upon what surrounds it right now. So, unless anything materially changes this current rebound looks merely corrective and may yet give way to more selling in due course- we shall see. BTC is currently trading 52,555
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