Home Bitcoin Bitcoin price bounce back to 10k USD First Time in 2020

Bitcoin price bounce back to 10k USD First Time in 2020

Bitcoin (BTC) price regained $10,000 Feb. 8 restoring investor confidence just two months after touching a higher low of $6,500 compared to the $3,300 dip in early December 2018.

Bitcoin started the 2020 calendar year just over $7,200 and is now already increased to over $10,100 just 38 days into the 20’s decade.

Bitcoin price back into 5 digits!

Data from Coin360 shows BTC/USD put in a sudden rally on Tuesday Feb. 4, gaining more than 1000$ in 4 days and subsequently holding onto support above $10,000. 

Bitcoin 7-days price chart
Bitcoin 7-days price chart. Source: Coin360

At the time of writing, Bitcoin is trading at $10,135 after rising 3.41% on the day. The trend remains bullish while volatility is high.

Last year, after Bitcoin came close to touching the $13,000 price mark, there was a period between September and October when bitcoin traded between $8,000 and $10,000.

If the resistance at $10,100 is not cleared, Bitcoin is likely to retreat towards $10,000 in order to balance, create more demand and launch another shot upwards. 

In case of a breakout, then the next level of resistance is $10,550, before the $10,900 – $11,000 price level. Further above lie $11,400 and $11,600 resistance levels.

While the bitcoin price predictions may range all over the place for 2020, many are watching for $15,000 range as the next level of interest if bitcoin can get its wings back.

Regardless of the consensus, the healthy and bullish move over $10,000 is expected to pave the way for the halving, and what will be a huge year for Bitcoin community.

Somewhere else in cryptocurrency trading

Ethereum was last at $229.15 up 2.2% on the day.

XRP was trading at $0.28256 a gain of 1.4%.

Ethereum’s market cap was last at $24.7B or 8.57% of the total cryptocurrency market cap, while XRP’s market cap totaled $12.1B or 4.22% of the total cryptocurrency market value.

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