Bitcoin BTC Bitcoinprice crypto Bitcoin holds near $20,400 as analysts highlight its recent stability
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Data from TradingView shows that an early morning attempt by bulls to push Bitcoin higher was soundly rejected by bears at $20,840, which led to a pullback in price to a daily low of $20,245 before reinforcements managed to bid it back above support at $20,400.
Speaking with CNBC Squawk Box cohost Andrew Sorkin, El-Erian agreed that Bitcoin is now going through a classic cycle of innovation whereby following a boom characterized by overconsumption and overproduction, the market is now “ending in tears.”
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