What a week it has been for Bitcoin and the crypto community at large. Tensions over the U.S elections were quite high but Trump’s win turned out to be a massive catalyst propelling BTC to new highs. However, this foray into new territory warrants caution due to the volatility that may come with it.
The prevailing sentiment based on a favorable win was that Bitcoin would surge to new highs and that outcome already played out. Many anticipate more upside in the coming weeks or months, but this does not necessarily mean that it will be a smooth sail onward.
Bitcoin has historically yielded a lot of volatility every time it broke out into new territory in the past. That is because breakouts are typically associated with heavily bullish hype and expectations are usually high. The above description fits the current situation with Bitcoin.
Bitcoin Open Interest Soars to New Highs, But..
While new highs tend to manifest in periods of extreme excitement, price action also tend
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