​​Bitcoin Recovers to $30,000 Area After Shedding Weekend Weak | Market Ranger

​​Bitcoin Recovers to $30,000 Area After Shedding Weekend Weakness.

Bitcoin recovered to around $30,000 after spending most of the weekend below that level.

The largest cryptocurrency rose as much as 1.8% to $30,450 on Monday morning in Asia. That’s after it fell for seven straight weeks, the longest losing streak since August 2011. That echoed the seven-week decline in the S&P 500.

“If the S&P falls some more, that should create one final flush and a great buying opportunity for Bitcoin,” Fundstrat Global technical strategist Mark Newton said.

Bitcoin is likely to hover around $29,000 to $31,000 for the next couple of weeks.

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