Digital currencies have the potential to make significant sideways moves; an upward swing can create considerable gains in few hours, but the downward swing can wipe billions off in few hours.
Cryptocurrencies moved sharply higher in the final quarter of last year before crashing in the first month of this year.
Though the coin has breached the resistance level of $9,000 on Saturday, it continues to trade in the range of $8,500 with sideways movement. The range bound trading signals the tug of war between bulls and bears.
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Source Crypto Currency News http://ift.tt/2HazKO6