Bitcoin Price Becomes Calm after Sudden Increase in Value

Bitcoin was trading at $10,400 seven days before, but it is now exchanging hands at $11,342. After remaining stable over 30-days, the top digital asset shows volatility by increasing in value.

$13,000: Crucial Level

In the recent rally, Bitcoin has touched even $11,500 on many exchanges after surging by 10% from its low position. Experts and analysts are making speculations about the future price of the coin. Some are proposing that $13,000 is the most important position on the macro level.  For instance, a prominent crypto analyst argues if Bitcoin makes move above $12k then $12,500 and $13,000 are very crucial levels to consider. Bitcoin’s move to $13,000 is expected in the coming days.

Some are having opinions about $14,000 which is also the highest position witnessed in 2019. Similarly, the candle of Bitcoin closed at $14,000 with the closing of the year 2017.

After claiming $11,300, the price of the world’s top digital asset has become stable like many other cryptocurrencies. In the immediate perspective, Bitcoin will have to overcome two resistance levels, $11,400 and $11,500, to move upward. After surpassing these resistance levels, it could move towards $11,800 and then ultimately $12,000.

Crypto data firm Santiment says it may retrace in price besides the recent jump in price value. However, it is just a possibility proposed by Santiment. In case of selling pressure, it may stop at $11,000 or $10,800.

Peak Value in Argentine Pesos

Bitcoin has reached peak value in Argentine pesos as 875,034 ARS is equal to 1 BTC. It is due to the high inflation in the country as a result of the currency’s crash. “Bitcoin is approaching its all-time high in Argentine Pesos, “said Michael Flaxman, co-founder of CoinSafe. Bitcoin is the best hedging investment against an increasing inflation state. In the past, Bitcoin traded at higher rates than CoinMarketCap’s rate in many African countries due to the high inflation of fiat currency.

At press time, the top digital asset is standing at $11,342 a slight change over last 24-hours.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

New Amendment Law: Crypto Companies will Share Information of Transfers Above $250

The United States is introducing new financial laws which are also applicable to digital currencies. To curb money laundering, the US regulators have proposed an amendment in the Bank Secrecy Act, which make it a requirement to collect details about transactions, which are above $250. The US regulators also include digital currencies in the upcoming […]

Grayscale Adds $300 Million in a Day and $1 Billion in a Week

Due to the increasing demand for hedge investment assets, the companies and institutional actors have increased their Bitcoin holdings. In the latest update, fund manager Grayscale notes it is holding $7 billion in assets under management. $7.3 Billion in AUM According to Grayscale, the fund manager has added a fresh investment of $1 billion in […]

Crypto Exchange Kraken Launches Trading Services in Japan

Cryptocurrency exchange Kraken has announced to offer trading services in Japan as part of its expansion plan in the APAC region. Spot Trading for Five Cryptocurrencies According to the official announcement, the exchange will offer spot trading for five major cryptocurrencies, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin. For these five digital currencies, the […]

Two Non-Profits Have Received $20,000 from Hackers

BBC’s report unveils that hackers have donated $20,000 in Bitcoin to two non-profits. Such kinds of unusual acts have made experts puzzled. Non-Profits: Children International and The Water Project Two non-profit organizations, Children International and The Water Project have received donation funds, which are known to be linked with criminal sources. According to BBC, the […]