Cryptocurrency

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Will Bitcoin Selloff Get Worse or Better

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Bitcoin fell overnight along with the cryptocurrency market as tensions in Russia and Ukraine mounted. With Bitcoin falling once again, analysts and experts are left to wonder if the token can even regain its form. One analyst said that “things are dicey” and investors should remain cautious. Still another economist said that Russia is nothing more than a big gas station and doesn’t necessarily impact the world economy beyond its oil and gas production. Still, more investors believe that we are in the middle of a bear market, with one analyst noting that Bitcoin has rejected the bull market support band twice. Finally, others believe that the bearish market will linger somewhere in the $33,000 to $36,000 range. If the token can rise above those numbers, it might continue to gain steam. At press time, Bitcoin was trading at just under $38,000, up a fraction of a percent on rising volume and a slight dip in its market cap.

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