Bitcoin (BTC-USD) has surged by nearly 50% in recent weeks after hitting a double bottom around the $6-6.5K level. And it’s not just Bitcoin, many of the popular digital asset names have skyrocketed over the past few weeks.
In fact, after putting out my “Bitcoin Is Back” article on April 14th, in which I mentioned that a tradeable short-term bottom in cryptocurrencies is likely in Ripple (XRP-USD), which had been up by about 50%, Bitcoin Cash (BCH-USD) had doubled, and so on. Incredibly, if we look back to early April, we can see that many of the major altcoins like Tron (TRX-USD), Cardano (ADA-USD), and others had doubled, or even tripled, inside a 3-week period.
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