Bitcoin News
By TCA PR
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A Further Surge for BTC Price?
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What’s the Reason Behind for Next Price Surge?
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Is $9,600 Overhead Possible?
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A few hours ago, the price of Bitcoin (BTC) broke above $9,000. Compared to its previous price actions, this level has not been seen since early November.
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After the 11% decline last week and the late last week’s $8,200 price movement, the leading crypto asset by market capitalization surprisingly exploded even higher.
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Many folks have remembered how BTC bulls celebrated the tremendous price boost back in 2017 following its struggle in reaching the same height.
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Although Bitcoin is still half the all-time high (ATH), many crypto analysts expect a further surge in the near term.
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So, the recent price surge will serve as a big boost to most traders.
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After the awful market performance last week as BTC traders were expected to have a bit trading decline ahead of coronavirus outbreak, the price has increased.
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Due to global coronavirus fear in China and beyond its borders, many assumed that it the reason behind the growing BTC price.
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However, it’s also interesting to discover that social issues and global tensions aren’t only influencing factors.
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Twitter CEO Jack Dorsey made a promise that he’ll help in the crypto’s development through Square Company, which is a payments company.
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Furthermore, Bitcoin is set to approach its most significant achievement as halving is just a few months away.
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No doubt, the unexpected price surge of Bitcoin is bullish. So, it’s no surprise why many folks expect that the crypto has to close the weekly candle above $9,557.
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The aforementioned close needs to concrete the idea that long-term downtrend, which led BTC to price actions from $14,000 to $6,400, is soon to end.
The Currency Analytics
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