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Bitcoin Tipped for Rally After Consolidation – Mining Costs Drop to 10-Month Lows
Reacting to the June Consumer Price Index (CPI) report, Bitcoin experienced a huge downswing to below $19k, followed by a quick rally that saw the leading crypto asset reclaim $20k. The price of Bitcoin has since consolidated between $20,000 and $21,000.
Bitcoin’s (BTC) reaction to the inflation report. Source: CoinMarketCap
The quick rejection at the $19k level and subsequent consolidation suggest that Bitcoin could be primed for an uptrend. Bitcoin is now gradually rising just above the $20,000 resistance level, gaining 5.2% to set an interday high of $20,980.
The 24 hour price chart for Bitcoin (BTC). Source: CoinMarketCap
With Bitcoin seeking to end its 2022...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...