$28,000 Bitcoin is in the cards, but it won’t happen without a struggle
Professional Bitcoin traders displayed strength after the BTC price corrected to $25,830, favoring further bullish momentum. Bitcoin’s (BTC) price declined for 8 consecutive days until May 13, totaling a 9.4% correction. The last time such a losing streak happen ed was on June 14, 2022, after the Celsius lending platform halted withdrawals and FUD emerged from U.S. software firm MicroStrategy’s loan being liquidated at $21,000. Nothing remotely similar happen ed as Bitcoin retested the $25,800 support on May 12, apart from the network congestion and increased transaction fees. Traders and analysts speculated that a coordinated attack was aimed at causing network instability. Bitcoin is under DoS attack. High transaction fees are the chosen pain point by the attacker, probably to makes bitcoin unusable for smaller players. pic.twitter.com/0J56liNSGf — iris.to/jogi (@proofofjogi) May 7, 2023 As pointed out by investor and Bitcoin activist proofofjogi, high fees likely make the ne...