Elon Musk, $40K and no demand: 5 things to watch in Bitcoin this week

Cointelegraph

Published Jun 14, 2021 04:36AM ET

Updated Jun 14, 2021 05:40PM ET

Bitcoin (BTC) starts a new week on a pleasant high thanks to a boost from a familiar source, Elon Musk. Are the good times back?

After spending weeks languishing close to $30,000, Bitcoin has managed to stage a sustained comeback to line up an attack on major resistance.

Bitcoin 7-day average mempool size chart. Source: Blockchain.com
Crypto Ed’s BTC/USD scenario as of June 14. Source: Crypto Ed/Twitter
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView
Bitcoin network hash rate 7-day average chart. Source: Blockchain.com
Bitcoin volatility vs. BTC/USD price action chart. Source: Dan Tapeiro/Twitter

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