A Rare Bitcoin Intraday Swing Is a Fillip for Jaded Crypto Bulls
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Weary cryptocurrency investors pining for a recovery in beaten-down Bitcoin can take some solace from an unusual intraday price recovery.
Weary cryptocurrency investors pining for a recovery in beaten-down Bitcoin can take some solace from an unusual intraday price recovery that's tended to presage rallies in the largest digital token. The pattern emerged on Oct. 13, when Bitcoin stormed back from a 5% swoon during the trading session to end up more than 1%. The about-face was overshadowed by a five-percentage-point turnaround in the S&P 500 equity index on the same day, a revival that left strategists open-jawed. There have been 15 sessions since December 2018 when Bitcoin wiped out a minimum 5% intraday slide to finish with a gain of at least 1%. It averaged a 19% ad...