Bitcoin was down 35% over the week leading through the Thanksgiving holiday weekend.
Today, it rallied 20% which is a big reversal from the trend it was charting. The world's largest cryptocurrency passed the $4,000 mark, hitting $4,300.
Other tokens like Ripple and Ethereum also saw a big jump.
Brian Kelly feels part of the reason for the run is the end to the Bitcoin Cash hash war. This took a lot of resources, many that, he believes, came from Bitcoin.
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this could be the bottom, we just experienced a 82.5% correction, this is quite in line with previous correction and we bounced out of this nice support line but anything is possible. I would love to go down 3k, I had more cash waiting to entry at that level. I just feel too many are expecting the 3k just like too many thought 6k would hold. Bitcoin tends to behave against common sentiment.
but there is another scenario that this might be a bull trap and the actual bottom might be around 2000$.
what do u think about it?
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