Bitcoin, is it worth being optimistic?
The recovery of Bitcoin in the last two days has been really encouraging. After falling to around $33,000, more than 50% from its highs, the cryptocurrency has performed very well and is 4% higher on the day, around $38,000. However, "it's not out of the woods yet and if overall risk appetite takes a hit, I expect bitcoin to suffer more," said Craig Erlam, Senior Market Analyst, UK and EMEA, OANDA. “Only time will tell if the crucial $30,000 region is tested, but traders will be very relieved by what they have seen this week. The key test above $40,000, the break of which could accelerate momentum into rise".