With the market in chaos, is the Bitcoin bottom really behind us?
ambcrypto.comOver the last week, several attempts have been made by the king coin to establish itself above $50,000. However, all efforts seemed to have gone in vain. Its price action has been restricted around $49,000, with the $47,900-level acting as a lower short-term support.
In many ways, Bitcoin’s trajectory presents a classic case of chaos and confusion in the market.
At the time of writing, BTC was trading at $49,112, having seen daily gains of 1.41%. However, before BTC’s mid-short-term price trajectory can be analyzed, it is crucial to look at what happened last week.
Over the last week, when many expected the king coin to head for recovery, there was a noticeable rise in network activity.
Bitcoin saw a close to 3% decrease in transactions and
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