Crypto news | Bitcoin recovery continues

Hello once again! We hope you had a wonderful Christmas, but now it’s time to get back to work and see what’s going on on the cryptocurrency market. The main piece of news is the bitcoin recovery: yes, the coin is springing back up after what turned out to be one of the worst weeks for the currency in the last several years. Its price slipped by almost 30%, falling down to almost 11,000$, but after that a pretty significant bitcoin recovery happened. Earlier today, the 15,000$ mark was broken, with the currency still showing no signs of weakening. This is something we warned about in one of our earlier articles as bitcoin was still dropping this is not the first time the cryptocurrency experienced major drop and the reports of everything coming crashing down were pretty exaggerated. Percentagewise, there were even bigger drops earlier this year, but bitcoin rebounded and got to where it is today. Oscillations and price corrections like this are quite expected, analysts agree. Other cryptocurrencies followed suit and their prices also made a significant recovery, although all of them still have quite a long way to go if they want to reach their record levels from about a week ago.

In other news, Forties pipeline, a vital pipeline in the North Sea is entering the testing phase after repairs, which caused oil prices to drop slightly. The pipeline is scheduled to become fully operational in January, so we recommend marking that event in your calendar if you’re interested in trading oil, as the prices are surely going to feel an impact when that happens. It is interesting to note that the minister of oil in Iraq expects the supply and demand to reach a balance by the end of first quarter next year, which will once again see the prices grow. We will just have to wait and see whether his predictions turn out to be correct, but for now that’s all we have for you. Of course, more news will be coming tomorrow. Happy trading!



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Author: Max Rothstein

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