At $11,770, BTC/USD had all but erased the effects of its precipitous fall last weekend, during which it fell from above $12,000 to $10,870 in a matter of minutes. Further upside, analysts predict, may be harder to sustain.
Markets Report: Bitcoin price hits $9,380 in fresh uptick as traders stay cautious on bull market
A sudden trip closer to $9,500 is not a definitive sign of a trend break, say analysts as Bitcoin’s compression looks ripe for disruption
Bitcoin surprised the market on July 21 as a sudden break to the upside saw the largest cryptocurrency accelerate towards $9,500. Data from price trackers showed BTC/USD suddenly gaining about 1.5% on Tuesday, contrasting the calmer behavior which had characterized the past five days.
Markets Report: Bitcoin seals a week of compression as bulls demand $9,400 close
An increasingly narrow price compression zone is due for disruption, but influential price factors mean Bitcoin is stuck just north of $9,000
Bitcoin is ending its latest week’s trading just inches from where it began on Monday, as a major breakout evades the market. Despite fluctuations throughout the week, Bitcoin price performance failed to inspire traders, with a narrow trading corridor characterizing the market.
Crypto Must-Reads for June 26, 2020
These Are the Crypto Stories You Should Be Following: Bitcoin ends a week-long bear run; China places $14,000 limit on “anonymous” digital yuan transactions; two analyses show bitcoin heading for a big bull market
Sunday ended a bad week for bitcoin, with a dip below $9,000 kept to a brief flirtation—investors hope. But there’s plenty of optimism to go around, as two models predict big bitcoin price increases coming—possibly mirroring or surpassing the 2017 bubble’s $20,000 mark. And China surprised absolutely no one by announcing that it will be tracking large(ish) digital yuan transactions by default.