Bitcoin (BTC) has been able to continue maintaining stability in the lower-$5,000 region after experiencing some large and overwhelmingly positive volatility over the past couple of weeks. This price action has allowed most major cryptocurrencies to see major price gains that harken back to the massive gains seen in late-2017, with many cryptos surging 50% or more.
Although this type of positive price action has typically been preceded by large retracements, one analyst believes that Bitcoin has further room to climb, which means that most cryptos may be able to continue recovering.
Bitcoin (BTC) Stable Above $5,200
At the time of writing, Bitcoin is trading up marginally at its current price of $5,230 and is only down slightly from its daily highs of $5,300.
While looking back towards Bitcoin’s November drop that sent it from over $6,000 to the low-$3,000 region, BTC is still well below this price level, which may prove to be the point at which BTC faces strong resistance that…
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