The most popular cryptocurrency appeared over the level of $9,000 during weekend and is now searching for a level where to remain
Bitcoin was traded for more than $9,100 on Sunday. Last time we saw bitcoin this expensive was beginning of last November. However, the current record-high value of bitcoin didn’t help it move closed to the “psychological” price of $10,000. On the contrary, bitcoin price dropped in the beginning of this week and currently stays under $8,600.
“Bitcoin is trapped between $8,460 and $8,750 and only a sustaned break of higher level could revive bull markets, analyst Omkar Godbole,” wrote on Coindesk.com. However, it seems that bitcoin found a new level where there is strong support of investors. And they won’t let it fall to $8,000 or even lower.
We are probably seeing a scenario from last September/October, when bitcoin didn’t drop under $8,000. The longer it appears under $8,500 and the closer bitcoin halving is, the faster and massive growth we may expect. By then, markets will be domanated by bulls.