The outage-related leg in the crypto wipeout is erased
19 May 2021
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Huge bounce from the lows
As I wrote at the time: “If this latest leg can be blamed on an outage, people will be buying the dip. Historical drops around outages are quickly bid up.”
That’s exactly what’s happened as Bitcoin has bounced to around $37,000 from exactly $30,000 at the low.
That completely wipes out the final leg of selling and I think that’s enough of a bounce for now. What a trader market it is in crypto. This opportunities are incredible.