Bitcoin’s Bounce From Turbulence Sparked by SEC Suits Signals More Gains if History Is Right

From bnnbloomberg.ca

A bout of Bitcoin turbulence caused by US Securities and Exchange Commission lawsuits against key crypto exchanges may be a precursor to short-term gains in the token, if history is any guide. The largest digital asset sank more than 5% on Monday, before recovering over 5% on Tuesday, as investors digested the agency’s actions first against Binance Holdings Ltd. and then Coinbase Global Inc. Similar back-to-back seesaw moves of at least 5% occurred five times over the past two years and presaged an average climb of nearly 11% over the subsequent 30 days, according to data compiled by Bloomberg. “Despite a wave of ... (full story)