Bitcoin is keeping the market guessing this Monday—$12,000 came and went in sudden spurts of volatility which show no signs of stopping.
According to data from price trackers including CoinMarketCap, Bitcoin showed signs of breakout through the weekend, this finally coming true in the early hours of Monday as BTC/USD hit highs of $12,070.
The highs were short lived. Hours later, a sudden plunge took the pair to $11,500, bouncing off support to linger in the middle of its daily corridor.
This second trip to $12,000 mirrors the first which occurred at the start of August—a fleeting retake of the new level before heavy resistance reverses the uptrend.
Nonetheless, this event differentiates itself from the rest in...