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Bitcoin rebounds, adds $4,000 within hours By BTC Peers

© Reuters. Bitcoin gains $4,000, and Bitcoin rebounded within 24 hours

While many may have assumed that was done for following China’s latest anti-crypto drive. It appears that the flagship cryptocurrency has some fighting left.

Bitcoin bulls refuse to surrender their position, as Bitcoin added $4,000 over a matter of hours, finally reaching an all-time high of $47,000. The digital asset’s status can best be described as volatile because it traded at $42k yesterday.

Bybt claims that $241 million worth of Bitcoin shorts have been liquidated as a result of the positive price movement. There have been $116 million in liquidations today, which is a rise in long liquidations.

Short traders wager on Bitcoin prices falling, while long traders predict Bitcoin price increases.

Bitcoin’s latest rally comes just a day after El Salvador officially started mining Bitcoin in an experimental capacity.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.