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Bitcoin Price Will Nosedive After Dead Cat Bounce: Crypto Blogger

Bitcoin

Crytocurrency / Bitcoin 43 Views

By CCN: The bitcoin price will crash again soon because the latest rally was merely a dead cat bounce and not because the cryptocurrency’s fundamentals are strengthening. That’s what Motley Fool blogger Kevin Godbold contends. In his May 26 blog post, Godbold observed that the bitcoin price has soared more than 120% between January’s low of $3,400 to its current value of $8,700. However, Godbold attributes that to a dead cat bounce, so crypto fans shouldn’t get too smug. As CCN reported, a dead cat bounce is a temporary recovery after an extended bear market that’s followed by a prolonged

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