{"id":417798,"date":"2020-03-11T18:57:45","date_gmt":"2020-03-11T18:57:45","guid":{"rendered":"https:\/\/uniquehot.com\/?p=417798"},"modified":"2024-06-11T13:43:13","modified_gmt":"2024-06-11T13:43:13","slug":"bullish-bitcoin-quickly-bounces-after-price-loses-crucial-7700-mining-support","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bullish-bitcoin-quickly-bounces-after-price-loses-crucial-7700-mining-support\/","title":{"rendered":"Bullish: Bitcoin Quickly Bounces After Price Loses Crucial $7,700 Mining Support"},"content":{"rendered":"

If you were around earlier this hour, you likely noticed the brief panic on Twitter when Bitcoin fell under $7,600<\/a>; that was the lowest the cryptocurrency had traded at in literal weeks, not to mention it fell under crucial support.<\/p>\n

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Though, over the past 20 minutes, the cryptocurrency has bounced, rapidly rallying from the low around $7,590<\/a> to as high as $7,805 as if investors had their fingers on the buy trigger.<\/p>\n

While seemingly irrelevant, as this was just Bitcoin rallying just over 2%, this small bounce was extremely important. Here’s why.<\/p>\n

Bitcoin Cleanly Bounces Back Above $7,700: Why It’s Important<\/h2>\n

If you’ve been following cryptocurrency analysts over the past few weeks, you likely know how much importance they’ve given to the $7,700 price point for Bitcoin.<\/p>\n

What’s interesting is that there is more than one reason why $7,700 is so key for BTC:<\/p>\n