Bitcoin Is Still In Gloomy Bearish Territory Even After A 43% Upsurge
Fresh gains at the start of 2020 as investors continue to speculate on its potential adoption against a series of geopolitical and macroeconomic letdowns. The benchmark cryptocurrency on Sunday surged beyond $9,000 for the first time in three months, up by 28.32 percent since the start of the year.
The gains came as a part of a wider upside momentum that started lat last year. In total, the price rebounded by 43 percent after establishing $6,430 as its local bottom in December 2018. A strong uptrend leads bitcoin above $9K | Source: TradingView.com, Coinbase Investors pointed to renewed demand amidst the US-Iran tensions that sent a majority of haven assets in the upward direction. The narrative later included the launch of yet another mainstream bitcoin derivative product.