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

by Mike Robinson

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© 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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