Amidst gold rush, Bitcoin stations below $12k
Bullish sentiment prevails even though the king of crypto had failed to the $12k level. According to analysts, over 50% of traders maintain the hope of a long and prosperous run for the cryptocurrency. Fundamentals-based interpretation also corroborates this narrative.
The positive outlook, however, is not shared by all traders. Over the past week, the coin has closed in the $500 - 900 range of the $11,000. The sideways action might be a consequence of the staggering results of Gold from over All-time highs.