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Bitcoin rebounds from drop below 40k

22 Sep, 2021

The rebound from just above 40k yesterday in Bitcoin was clearly struggling to hold ground above 43k yesterday and eventually that told on the lead cryptocurrency. The headline article here was perhaps not misplaced in its observations, as the price later fell back after the US close and into the Asian handover today. BTC dropped to as low as 39,612 on the Asian opening and that move came as Ether suffered an even deeper fall, taking it to as low as $2,650. However, and despite Ether not yet reclaiming the $3000 handle, BTC has rebounded back towards 42k this morning. That in effect has delivered a quite marked move in favour of the lead coin in terms of the relative price between the two. Having said that, the rebound in BTC is yet to come close to reclaiming that 43k handle and unless it does, it is still surely susceptible to another sell off. All the while that Ether is languishing below $3000 that is surely the case too. Bitcoin is just now trading at 41,920

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