Analysts think Bitcoin may be overextended as bulls fail to hold $24,000



Bitcoin has undergone a strong rally over the past week, moving from $19,000 to highs near $24,300.

As of the time of this article’s writing, BTC trades for $23,100, as bulls have failed to hold the $24,000 support. The cryptocurrency moved higher last evening as institutional money has continued to flood into Bitcoin and after Elon Musk, CEO of Tesla and SpaceX, inquired about investing in BTC with his company’s balance sheet.

But as Bitcoin has begun to show some weakness, even in the face of a confirmed distribution of $600 stimulus cheques to millions of Americans, some analysts have shared their sentiment that a correction is building.

For more information visit here: https://cryptnewz.com/analysts-think-bitcoin-may-be-overextended-as-bulls-fail-to-hold-24000/

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