Bitcoin Prints A New High Moving Past It’s Resistance Line And The FTX Saga

Bitcoin has managed to print a new all time high since the bear market that started first quarter of last year, in the last 24hours the king crypto has performed greatly with 11% movement within the crypto market to be trading at $21k. Even the second largest crypto asset as per capitalization moved a bit with 6% in the past 24hours, the bitcoin market movement has influenced the crypto market generally as we could witness some bullish candle on their daily trade.

source

The plunge which was witnessed last quarter of last year was influenced by the collapse of FTX, which was alleged and charged for misuse of customers funds. The case which is still pretty much in court with several preceding dates, with the looks of things it doesn’t seem like it going to be over anytime soon.

With the recent bullish run, does it signify that we are out of the bearish market? This is a question which is running through everybody minds now in the crypto space, well for me I feels is a bull trap because with MT.Gox disbursing it’s bitcoin funds to it’s holders as part of their bankruptcy deals I am definitely sure that the king crypto will take another leg down if it remains bullish still march.

If you see this post on a Web2 ecosystem and you have no clue about what Leofinance is here is a brief definition;

LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
Over here we refer to users as lions, so are you ready to be a lion here is my referral link

Also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.

Let’s also connect on some of the web2 platform.
Twitter:Hironakamura

Posted Using LeoFinance ^Beta