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Bitcoin bounces back

27 Jul 2018

Bitcoin has broken the $6,700 mark after a few days of hovering above the $6,500 mark. 

This price level is particularly significant given that it was the first drop level after the 10% dip in mid-June 2018. Many analysts had identified $6,700 and $6,900 as crucial resistance points in the march towards $7,000. The big question now is whether the recent gains in the cryptocurrency market signal the start of a sustained bull run or whether it is only a relief rally as some analysts have claimed.

The cryptocurrency market has endured a tough 2018 declining by more than 50% of its all-time high set in the last days of 2017.