Bitcoin Recovers After Plunge Below $30,000; Wary Traders Wonder if New Surge is Ahead

Bitcoin surged on Wednesday above $31,000 after a brief dip below $29,000, fueling debate among cryptocurrency traders who wondered if the shift presaged a journey to new record highs or whether it would become a fleeting stop on the way down.

“There’s a couple things I’m impressed with about this move,” TJM Institutional Services Director James Iuorio said in a morning interview with Fox Business Network’s Maria Bartiromo. Citing moves to regulate cryptocurrency by Turkey and the European Union, Iurio said, “Crypto’s had to deal with quite a bit of stuff. They had to deal with massively over-the-top positioning and regulations … so I thought there was going to be this big move, [and] $30,000 was the big psychological
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