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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

LEGO ready to land in the NFTs? The news that breaks bricks

A New Player in the NFT World - It only took one tweet to get fans of NFT and Lego bricks on...

Bitcoin price: BTC fell back again, trading below $ 36,000 again

Bitcoin (BTC) closes the week with a new low of more than 10%, which pushed its price back below $ 36,000.

Bitcoin Core developers release version 0.21.0 of the software

The developers of Bitcoin Core have just announced the release of version 0.21.0 of the software. Result of...

Shopify employees allegedly behind Ledger’s database hack

In a blog post today, hardware wallet designer Ledger returned to his customer database breach in July 2020 where two employees of...

Bitcoin: New Correction Before Q1 Ends

Alex Mashinsky, CEO of Celsius, assured that the price suffered a decline yesterday in the crypto market. In general comes as...