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New Reality for Bitcoin Hodlers is a Trading Range of $3500 – $6000
It may seem obvious to many, but for those finding themselves overweighted in a given asset class after the massive market reset last week as a result of COVID-19, the truth can be very hard to take in. As such, it is worth repeating: we are in a new world now, and the sooner traders can abandon the notion that yesterday’s market will return, the better they will be at being able to navigate positions in this new reality. To put it more starkly: Bitcoin’s trading range has been completely reset. As the chart below shows, traders can expect Bitcoin to trade between $3,500 and $6,000. The chart also shows the ... (full story)
