Bitcoin price rising up by 8% over last 24 hours

1 min reading

After a crash on weekend, Bitcoin (BTC) is once again rising, and increasing the price by 8% in the day-range. Current Bitcoin price is 9 656 USD, which is a good forecast for breaking 10 000 USD level.

bitcoin

Current Bitcoin situation

According to data from CoinMarketCap, Bitcoin price started with 8 805 USD at yesterday’s session and closed on 9 270 USD. It is a increase of 5,3%.

Currently, Bitcoin price is 9 656 USD. Over the past 24-hours BTC has strengthened by 8%. The leading cryptocurrency increased its price by 13,3% after the halving that happened three days ago.

A strong rebound increases the chances of cryptocurrency to try 10 000 USD resistance level once again. 

btc chart

Analytics emphasise, that Bitcoin charts are signed with a rare purchase signal so-called “golden cross”. It occurs when the exponential moving average of the last 50 periods (50 EMA) intersects from the bottom of the average of the last 200 periods (200 EMA), indicating a possible (not insignificant, certain) strong increase in the price of the asset. Over the past year, it appeared only twice, in April 2019 and in January 2020

Michael Novogratz: Bitcoin will grow up to 20 000 USD this year

Mike Novogratz, CEO of Galaxy Digital, was interviewed by CNBC. He said, that Bitcoin’s price increase is unavoidable due to mass printing of money by the government. 

Rare actives such as Bitcoin should grow up. It will go up to 10 000 USD now, and 20 000 USD until end of the year. I’m sure of that.

-said Novogratz.

It is worth mentioning, that in February this year, when Bitcoin has reached its this year ATH, Novogratz was also convinced, that Bitcoin should test 20 000 USD level. It was even before halving occurred. He still ensures, that 2020 will be Bitcoin year, and the cryptocurrency will break 20 000 USD level.

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