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International Business Times

Business

Nica Osorio

Bitcoin Price Level Might Serve As Starting Point For Incoming Bull Market: Analyst

Bitcoin Ryan Lee Crypto King Charles III United States

Bitcoin on gamer keyboard (Credit: QuoteInspector.com/flickr)

KEY POINTS

Bitcoin short position liquidations "significantly weakened the bearish forces"
"The market may undergo an overall accelerated upward revision," said Bitget Research Chief Analyst Ryan Lee
Bitcoin was trading in the green zone at $41,687.35 as of 710 a.m. ET on Monday

Bitcoin exploded late Sunday night and continued to trade above the $41,000 price level until Monday, which according to an analyst could serve as the new starting point for the incoming bull run.

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