Cryptocurrency

Bitcoin price back above 10,000 USD

The Bitcoin price has shown in the last 2.5 months of his otherwise very untypical relaxed side. After the price had recovered from the Corona Crash in the middle of March, came to the Halving of the 11. May not much in terms of dynamics. Just in the last few weeks, since mid-June, the BTC price moved only in the range between 9,000 and 9,600 USD, and showed a very low level of volatility that has not been seen since November of 2018.

But yesterday, on Sunday, the turning point came: the magical border to a five-digit Bitcoin exchange rate of 10,000 USD has finally broken through again. This movement, preceded by a Pump to several percent within a few minutes is gone. How to summarize to you the latest development in the market and the short-term Outlook in this article, so that your up-to-date are. A lot of fun!

Bitcoin course fireworks on Sunday

The Bitcoin exchange rate seems to have on yesterday’s Sunday at last for his weeks of consolidation left behind and to have his well-known volatility found again. The reason for this short-term Break the magical five-digit limit at $ 10,000, which in the past has served Frequently as a resistance and psychologically important.

The Bitcoin exchange rate pumped within 20 minutes of 9.800 USD to over 10.150 USD in the tip. The bad news is that this movement of over 3.5% within a few minutes was, unfortunately, as is so often the case with Pumps in a very sustainable way. A short time later the BTC price slides back under the five-digit border, with approximately 9.940 USD but at the time of writing the article is still a good bit higher than before the Pump and scratching, so continue to the $ 10,000.

Quite unexpectedly, the whole movement wasn’t around 10,000 USD. Since the test of the resistance at 9,000 USD on 16. July is the Bitcoin price in a steady upward trend, with the all the few days of higher lows were set. So it was on 21. 22. July is already smaller Pumps.

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At the beginning of the Bullruns or short-term correction?

The question of questions now is whether the Bitcoin more day can stay the course of this upward trend, or even continued. Long wait due to the Halvings in may and the macro-economic developments in the Wake of the corona crisis of many BTC Fans on a Bullrun. The hope now is of course great that the Wait has come to an end. Unfortunately, all experts agree that it will go from now on in the Bitcoin course is mainly uphill.

In a new Twitter Thread of the Crypto-strategist “Dave the Wave” splits its 33.000 followers, that he proceeds about the Bitcoin exchange rate to break out, finally out of its current range, and a new Bullrun will start that it is expected, however, that BTC will first go through a significant correction.

Based on the Chart of the pseudonyms Traders the Bitcoin exchange rate can fall up to $6.900, before BTC recovers and the diagonal resistance of the multi-year triangle breaks. He says that his short-term bearish view would be invalidated way, if the bulls manage to bring the crypto-currency over $10.600.

A Chance to get started?

If Dave The Wave will keep its forecast that it will temporarily come to a correction in the Bitcoin price right, of course, remains to be seen. Nevertheless, the long-term evaluation of the Traders remains very optimistic. In some of the other Posts Dave the Wave has predicted a BTC price of $ 100,000 by the end of 2022.

If you Believe this to be very bullish long-term evaluation (with Dave the Wave, not alone stands) giving or in the short term after the break Through the 10,000 USD in Bitcoin exchange rate more see Potential and your own in-depth Research did you do, make sure it is the correct selection of the Exchange or the broker. Your money and your Coins are only as safe as the Partner you trust in. According to our own Tests, we can recommend you and others because of the ease of use eToro as a focal point. In addition, you can set here not only rising, but also falling prices and so benefit from any market circumstances. Before, we promise you too much, click on the Button and see for you self!

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The comments in this article do not represent any trading recommendations or investment advice.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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