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Bitcoin extends recovery as bulls aim for $55,000
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economictimes.indiatimes.comBitcoin edged higher for a third day following this weekend's flash crash, with chart watchers suggesting the rally may push the largest cryptocurrency back to around $55,000. The coin rose as much as 2.9% to $51,590 on Tuesday, while other smaller tokens also advanced.
Bitcoin had dropped as much as 21% on Saturday. The Bloomberg Galaxy Crypto Index of the biggest digital assets gained 5.1% at one point during the session and a gauge of 100 coins added 5.4%.
«Bottom line is the most leveraged and speculative marketplace in the world — cryptos — flushed out some of the excesses in thin weekend trading and is resuming the more enduring bullish trend,» said Mike McGlone, a Bloomberg Intelligence analyst. The market has seen speculative
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