Is BTC price about to retest $20K? 5 things to know in Bitcoin this week
Bitcoin looks like it is treading on thin ice as February fails to match the gains of last month. Bitcoin (BTC) starts the second week of February in a newly bearish mood as multi-month highs fail to hold. In what may yet bring vindication to those predicting a major BTC price comedown, BTC/USD is back under $23,000 and making lower lows on hourly timeframes. Feb. 6 trading may not yet be underway in Europe or the United States, but Asian Markets are already falling and the U.S. dollar gaining — potential further hurdles for Bitcoin bulls to overcome. With some macroeconomic data to come from the Federal Reserve this week, attention is mostly focused on next week’s inflation check in the form of the Consumer Price Index (CPI) for January. In the build-up to this event, the results of which are already hotly contested, volatility may gain a fresh foothold across risk assets. Add to that those aforementioned concerns that Bitcoin is long overdue a more significant retracement than thos...