The Currency Analytics
By Dan Saada
Bitcoin (BTC) Positive Climb
Bitcoin needs to have a renewed market sentiment if they need to have a bright October. The price of the BTC continues to be relatively stable.
Despite, the uncertainty dwelling in the Macroeconomic environment due to the expiration of a major amount of futures, there was not much volatility.
Recently there was a cryptocurrency hack at KuCoin. Anytime a hack happens there is a fear of the hacked funds getting transferred to some of other exchange or wallet and…
Importantly, “Roughly $150 million in Bitcoin and ERC20 tokens were reportedly taken.”
This just means that the confidence level on BTC continues. The price action is not creating the epinephrine rush as it is trending in ranges.
Sydney Ifergan, the crypto expert tweeted: “Bitcoin (BTC) will eventually make a new found price discovery and a parabolic run.”
A bullish continuation is highly anticipated for the BTC. The Twitter social sentiment for Bitcoin is seen at a two-year low.
Early this year, Bitcoin dropped to as low as $3,600 and some of them even expected the price to go as low as $1,200.
The fact that Bitcoin is able to stay where it is despite the KuCoin hack is a good testimony about its stability as a trusted asset for investors.
Regarding the KuCoin hack CZ and Binance have expressed their complete support to KuCoin in the recovery of the funds.