Cryptocurrency Markets Find Stability as US Elects Multiple Pro-Crypto Politicians
The cryptocurrency markets have found stability following a period of large gains, with Bitcoin trading steadily in the $6,500 region and altcoins trading sideways. The stability comes after an important mid-term election cycle in the United States, in which multiple pro-crypto and pro-blockchain politicians were elected into public offices.
At the time of writing, Bitcoin is trading at approximately $6,520, up just over 1% over a 24-hour trading period. Bitcoin is still trading in the middle of its long-established trading range, which has proven on multiple occasions to be between $6,200 and $6,700.
Bitcoin fell into this aforementioned range in early September, following its gradual move to $7,400 and its sharp drop to $6,200. Since then, BTC has bounced between the top and bottom of this range, only briefly breaking through it in mid-October when its price temporarily went above $6,800 before falling back into the range.
Over the past couple of weeks, Bitcoin’s price action…
Read Full Story : NewsBTC