Bitcoin (BTC) may have rallied to $44,000 on the back of United States inflation data, but according to traders, there is little hope of a sustained comeback.
In a Twitter discussion on Jan. 12, data analyst Material Scientist warned that a significant downside may still return to Bitcoin price action.
“Now we wait”
Despite showing stength since bouncing at $39,600, BTC/USD has yet to convince most analysts that its overall downtrend has ended.
After U.S. inflation data came in at 7%…
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