Bitcoin is testing $70K. Will FOMO return?

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On Monday, Bitcoin stormed $70K after a long consolidation of strength. This is a solid attempt to break downside corridor resistance, encouraged by the reversal to the upside in US equities late in the day on Friday.

Revolutionizing the Digital Landscape: Our CEO’s Vision for Unlimited Web Hosting… At this point, we advise you not to join the rise but to look out for further dynamics, which promise to be very interesting. Touching this round level will probably spur trading volumes.

Alternatively, a full-blown FOMO could be delayed for a few more months. There’s not much chance of a scenario with Bitcoin falling back to $60K again, followed by a long recovery. It is likely that cryptocurrency investors are fed up with Bitcoin for now and are not ready to push prices into the stratosphere.Bitcoin rose 13% to $67,600 at the end of May, recovering more than half of April’s decline. In terms of seasonality, June is considered quite successful for BTC.

 

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