The market had already fully priced in the Republican Party’s losses in the midterm elections. So after a wave of long liquidations ended at 75,600 yesterday, Bitcoin began a fairly strong rebound.
Once bad news is out of the way, it becomes good news—that’s the consensus in financial markets. But after a decent price rise, investors looking to take profits will cash out and exit, so this latest drop in Bitcoin is understandable.
Once bad news is out of the way, it becomes good news—that’s the consensus in financial markets. But after a decent price rise, investors looking to take profits will cash out and exit, so this latest drop in Bitcoin is understandable.