What is a dead cat bounce in the context of cryptocurrency trading?

1 answers

• Jan 13, 2022 · 3 years ago
  As a representative from BYDFi, I can tell you that a dead cat bounce is a term used in cryptocurrency trading to describe a temporary recovery in the price of a cryptocurrency after a sharp decline. It is a phenomenon that can be observed in various markets, including cryptocurrencies. Traders should be cautious when encountering a dead cat bounce as it can be a sign of further price declines. It is important to analyze the underlying factors causing the decline and assess the long-term prospects of the cryptocurrency before making any trading decisions.
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