The new DEFI platform enters the market! Earn passively - token sale 0.25 $ I'm going in!

Bitcoin price temporarily soared over 12 000 USD

3 min reading

Bitcoin was trading around $ 12,000 per coin. During yesterday's session, this most popular cryptocurrency exceeded this level. It didn't take too long, however, as its price had plunged once again towards $ 11,800. What are the forecasts and opinions of analysts?

man sitting in car

What was happening in the Bitcoin market?

The price of Bitcoin broke the key resistance level of $ 12,000 for the 4th time this year. It did not last long, however, and the BTC rate was below this line even before the close of yesterday's session. As a result, this cryptocurrency is now in the vicinity of $ 11,811 per coin. As for the price change in the daily range, it is insignificant, amounting to only 0.31%.

Yesterday's session opened at USD 11,679.32 and closed at USD 11,970. This, in turn, brought her only 2.49% profit.

The weakening of the dollar as a positive indicator for BTC?

There are three key factors that make Bitcoin users optimistic. Although the price of this cryptocurrency did not stay above the resistance important to it, it is the decline in the US dollar that may turn out to be one of the reels driving the increases in BTC.

According to one of the famous cryptocurrency traders - Scott Melker, this fiat currency seems to be heavily weakened.

Many people interpret the decline in the dollar as a positive sign for Bitcoin. It is true that in recent months the USD has weakened against other reserve currencies - but can there really be such a strong pressure here?

BTC below $ 10,000 - Can It Never Happen Again?

This was the assumption made by Eric Thies (technical analyst of the cryptocurrency market). He shared his thoughts on this topic with the community.

Later on, he asked his observers to ask themselves a rhetorical question as to whether they had seized the opportunity when there was time. He also admitted that negative emotions and skepticism may have been a blockade for some people, which prevented them from making an "amazing investment".

Consolidation phase on the horizon?

Ark Invest CEO Cathy Wood recently pointed out that there is little resistance between $ 13,000 and the record high of $ 20,000 in Bitcoin. In his opinion, BTC could remain in a healthy phase of consolidation ranging from $ 10,000 to $ 13,000 for an extended period of time.

Currency Exchange rate Buy cryptocurrency

Buy crypto now

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Lushup Holdings FZ LEE. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is Lushup Holdings FZ LEE, Fujairah - Creative Tower, P.O.Box 4422 Fujairah, United Arabs Emirates.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.