{"id":397241,"date":"2019-09-26T18:30:30","date_gmt":"2019-09-26T18:30:30","guid":{"rendered":"https:\/\/ktsl888.com\/?p=397241"},"modified":"2024-06-11T13:25:50","modified_gmt":"2024-06-11T13:25:50","slug":"bitcoin-outperforming-2016s-recovery-price-crash-to-7700-not-bearish","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-outperforming-2016s-recovery-price-crash-to-7700-not-bearish\/","title":{"rendered":"Bitcoin Outperforming 2016’s Recovery, Price Crash to $7,700 Not Bearish"},"content":{"rendered":"

If you haven’t checked *insert your favorite Bitcoin<\/a> (BTC) price tracker here* over the past few hours, you’re in for a fresh surprise.<\/p>\n

The cryptocurrency market has incurred its second large trading session of losses this week, with the aggregate market capitalization of all digital assets tumbling to $209 billion.<\/p>\n

Related Reading: Fractal: Bitcoin Price Likely to Hit $7,500 Before Rally to New Highs<\/a><\/h6>\n

Bitcoin, in particular, is trading at $7,850, posting a 4.5% loss in the past 24 hours. Altcoins have fared worse, with most registering daily performances of under -6%.<\/p>\n

Bitcoin Price Recovery Still on Track<\/strong><\/h2>\n

This dramatic move to the downside, for some reason, sparked fears that Bitcoin is entering another “bear market”.<\/p>\n

However, historical data shows that the cryptocurrency is still on track to recover as it did in previous cycles, making the 25% drop over the past week not long-term bearish per se.<\/p>\n

ARK Invest’s<\/a> in-house crypto analyst, Yassine Elmandjra, noted that Bitcoin is currently at “similar levels of recovery as both 2011-2013 and 2015-2017 recovery periods”.<\/p>\n

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UPDATE: Day 284<\/p>\n

Currently at similar levels of recovery as both 2011-2013 and 2015-2017 recovery periods. pic.twitter.com\/ntedTt6vEl<\/a><\/p>\n

— Yassine Elmandjra (@yassineARK) September 26, 2019<\/a><\/p><\/blockquote>\n