News Bitcoin Price: Almost $10,000 Now

Bitcoin Price: Almost $10,000 Now

-

- Advertisment -

Bitcoin price analysis

Reaching all-time highs every day is not surprising anymore. It is not a rollercoaster and not simply an upsurge. It is a hyperjump.

According to
Mark Dukas, Bitcoin and Blockchain Consultant, and cryptocurrency trader at
BitcoinSmartMoney.com, “this week’s trend of Bitcoin blowing through all-time highs continues. The Bitstamp chart shows Bitcoins price reaching $9,721 before taking its first breather. The amount of volume on the move up to $9,700 was higher than average volume over the past few days. As a trader, this legitimizes the price move up.” 

Bitcoin chart 28.11.jpg

It seems
CME Group’s announcement had an even more prominent impact on the market than was anticipated. To understand its essence better, it is worth mentioning that the appearance of a government-regulated bitcoin exchange will simplify the entrance of new investors from the traditional finance sector into the digital currency market.

At the moment, it is quite difficult for
traditional investors and traders to trade and invest in Bitcoin due to strict KYC and AML regulations. The simplification of this process will improve BTC liquidity and therefore, promote its adoption among traditional fiat market players.

As to the possible Bitcoin price change in the future, Mark Dukas shared his opinion with Coinidol:

Mark Dukas

“From a technical analyst view, Bitcoin’s mid-term price support on the 720 min chart (2 bars per day) is currently at $7,431.00. New resistance is now $9,721 and price support sits at $5,555.00. Look for another small push down before prices takes off through $10,000 USD. Be sure to check out volume moving the price to see the legs this next move has. A mind-blowing number came out of the Coinbase camp: 33,000 new users every day are signing up. The amount of Bitcoin mined per day: 1,800. Math and numbers don’t lie. Look for $10,000 plus and cryptocurrency market cap as a whole to reach half a trillion dollars in 2018.”

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Bitcoin SV has found a new niche in the gaming industry

Gaming companies and online casinos are increasingly paying attention to cryptocurrencies as a possible payment tool. Several...

Why could GLBrain become a great solution to receive support during the crisis?

To support smaller and medium-sized businesses during the ongoing crisis, GLBrain offers services cost-free for all Austrians....

Make Fast and Secure Trades Using Bitengo.io

Bitengo.io is a Cryptocurrency trading platform that allows users to buy and sell their Cryptocurrency in a...

Network Security Using Cryptography: Everything you need to know

This article will describe what is Network Security Using Cryptography and everything you need to know before...
- Advertisement -Bitcoin Price: Almost $10,000 Now

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came under new ownership in December 2019. Since taking over the exchange,...

Fungibility: Bitcoin Mixers Favorite Term That No One Understands

Fungibility, perhaps the most important concept when dealing with a decentralized and anonymous currency, but does bitcoin...

Must read

Bitcoin SV has found a new niche in the gaming industry

Gaming companies and online casinos are increasingly...
- Advertisement -

You might also likeRELATED
Recommended to you