Bitcoin, ether and other major altcoins started the seasonally strong month of February on an upswing as investors seemed ready to return to riskier assets. MuyaoShen and JPRubin23 report
rose by as much as 10 times within hours. Its price since then has dropped significantly.
The occurrence shows that despite many crypto observers believing China's market is dead, especially after exchanges such as HuobiTechnician's takeBitcoin is holding support above $37,000, albeit within a narrow trading range.Buyers will need to make a decisive move above the $40,000For now, the relative strength index on the four-hour chart is approaching overbought territory, which typically precedes a brief pullback in price.
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