As was somewhat to be expected, all of the cryptocurrency markets have turned incredibly bearish again. This is primarily because the Bitcoin price is plummeting all of a sudden with no real improvement in sight. The hourly charts look very bearish, thus it seems likely the $4,750 level will not remain in place for very long, assuming this trend continues. Bitcoin Price Trend Sours Significantly It was somewhat to be expected Bitcoin would not rally for very long until things got dire again. Any market needs a correction after sustaining either strong gains or severe losses. For the time being,
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