Bitcoin suddenly retests $50K in possible ‘shakeout’ as analysts stay bullish on BTC

Posted by William Suberg,

Share on Facebook

Tweet on Twitter

Bitcoin (BTC) kept traders on their toes on Tuesday as a sudden price dip sparked a retest of $50,000.

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it shed $2,000 in two hours Tuesday.

The pair had hit $52,960 — nearly a four-month high — before consolidating and then heading lower.

The volatile conditions mark a memorable day for Bitcoin adoption, coming as El Salvador becomes the first country in history to adopt a partial “Bitcoin standard.”

For traders, the BTC price reversal, which at the time of writing had cooled at $50,500, was likely merely a technical event…read more.