Bitcoin has regained a bullish momentum to make up for $800 day’s dip replicating gains in the tech stocks, further affirming its correlation to the stock market.
Amazon is up 15% in the past day in an upward momentum as at February 4, rising 10% at the open as Meta stock plunges further.
Popular analyst and trader, Pentoshi, maintains a positive stance on bitcoin, saying that the current area will be where larger players buyback and close short positions.
Other bullish investors view bitcoin as almost done with the downtrend and possibly embarking on a rally.
Signals appeared at the close of January that bitcoin was almost at a possible exit from the plunge that took it down almost 50% from the ATH.
Source: Cointelegraph
