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The cryptocurrency market is showing a steady surge after last week’s big sell-off after many indicators have turned bearish. Last week after the price closed below the 20MA level (a popular indicator used by traders to assess price dynamics) there was a big sell-off that saw Bitcoin prices rise nearly 40% in a single day. fell, causing panic in the market.
Many external factors also appear to have played a role in the decline, particularly the Chinese government’s announced ban on cryptocurrency mining.
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