Cryptocurrencies
Bitcoin Is Stuck In a Rut, But Millennials Could Bring Salvation
- Potential for Robinhood traders to turn into crypto buyers
- Largest coin has traded between $8,500-$10,000 for two months
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In a period defined by market volatility, Bitcoin hasn’t gone much of anywhere. Crypto analysts are betting bored millennials can drive a breakout rally.
The largest digital asset has traded in a narrow band between $8,500 and $10,000 for the past two months, the longest it’s gone without substantial movement this year. In addition, its 14-day Relative Strength Index (RSI) -- which measures the magnitude and persistence of price movement -- is at 48.5, a neutral point that underscores its muted range.