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10 May 2021

3 reasons why Bitcoin is on shaky ground after failing to retake $60K

3 reasons why Bitcoin is on shaky ground after failing to retake $60K


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Bitcoin (BTC) is back testing lower levels after failing to conquer $60,000 resistance — and indicators suggest the downturn is not over.

As Cointelegraph reported, a familiar face from sentiment changes past is back this week — greed.

This is still below its mid-90s peak seen earlier in the year — a level which almost guarantees a sell-off — but volatility ensures that the Index does not stay in the same zone for long.

Last but not least is perhaps the most conspicuous factor at play when it comes to problems for Bitcoin this week: altcoins.

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cointelegraph.com
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