Bitcoin back above 50k again today

The rollercoaster price action continued again yesterday for Bitcoin, but the range was certainly more compressed than that seen on Tuesday. The lead cryptocurrency remained in a range covered by 47k to 51k. Today it has rebounded from an earlier low near 48k to back above 50k right now. The range so far today has been set at 48,088 to 50,881. Hence, currently inside the 4k range seen yesterday, but it does not seem likely to necessarily remain that tight for the rest of the session. The price action is rapid again and that is understandable, for no better reason that its high numerical price. So, it would unwise to expect anything less than at least a 10% price swing from top to bottom at some stage. Right now the upside looks like the weak one and it could be that the correction from above 58k, to 45k has now runs its course. That is by no means certain of course, but the current price action suggests it is once again trying to recover closer to its most recent record highs. Bitcoin is currently trading at 50,510