Why Fears of Correction Still Dominate the Bitcoin Market Despite Big Rally

By Yashu Gola

Bitcoin staged a sharp price rally this Tuesday as speculators continued to assess the likelihood of a full-blown military conflict between the US and Iran.

The benchmark cryptocurrency established a seven-week high of $8,000 on Coinbase, its best level in seven-weeks. The move upside brought its weekly gains up by 10.27 percent. The bitcoin futures trade, too, noted moves towards $8,100 after the price rally in the spot market.

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