TrendsWide
Contact US
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
No Result
View All Result
Home Cryptocurrency

Way to $12000 is Clear or Bitcoin Still Needs to Sustain ‘Drain’?

by souhaib
October 20, 2020
in Cryptocurrency
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT


You might also like

6 Fantastic Uses Of Cryptocurrency

Where to Buy ETH Online?

Identifying a Suitable Platform from Biggest Cryptocurrency Exchanges

The Bitcoin price in the past couple of months has maintained a trend by swinging in a very narrow range for some days and suddenly get pumped to the next level. The same is anticipated to have occurred in the last 24 hours when the Bitcoin price jumped close to $12000 levels.

BTC chart today

Currently, Bitcoin price is trending at $11,743.17 with a gain of 2.63 percent in the last 24 hours. The digital asset is also anticipated to touch $12000 any time now in the coming hours. But will the asset reach $12000 is the biggest question of the hour?

Bitcoin Faces a Probable Pull-Back

It is a human psychology that after such a long wait, if bitcoin tends to cross $12000, then the patient traders tend to sell-off their holdings. As mentioned earlier, bitcoin currently possesses itself as a less volatile asset by discarding immense jump and a drastic dump.

Therefore, the traders who might have entered bitcoin space when the price was lower than the present levels, are more likely to sell bitcoin. Currently, if we consider the hourly chart of Bitcoin, the technical indicators suggest a selling pressure may build in the market which might hinder bitcoin bull rally. 

The mounting selling pressure however eases with the dump in the price to some extent and later asset tends to wait for another push to cross $12000 levels.

Hence, currently it is very important for the traders to enhance the buying pressure rather than creating a selling pull back so that the bitcoin price gets a booster pack to rally above the levels.

Also the FED chairman, Jerome Powell also in his speech at the IMF said that the US Central bank would collaborate with the private sector to develop CBDC’s. Moreover, the US stimulus package is also expected very soon, with the US elections on the toes. These factors may play a vital role in pumping Bitcoin price.

Additionally, Bitcoin is gaining back its lost dominance again which might be a good sign. The bitcoin currently enjoys 59.7 percent dominance among all other altcoins in the crypto market. In a nutshell, the immense buying which indicates the reliantness and the credibility might end up a bitcoin bull rally with record high bitcoin price.



Source link

Share this:

  • Twitter
  • Facebook
  • More
  • Pinterest
  • Telegram
  • Email
Share30Tweet19
Previous Post

UBS net profit jumps close to 100% in the fiscal third quarter

Next Post

Covid: Manchester in limbo as deal deadline passes

souhaib

Recommended For You

6 Fantastic Uses Of Cryptocurrency

by souhaib
May 19, 2022
0

While cryptocurrency is definitely a trending topic these days, many people are still unsure of how exactly they could make the most of it. In fact, even 14...

Read more

Where to Buy ETH Online?

by souhaib
March 21, 2022
0
Where to Buy ETH Online?

Have you decided to invest money in ETH? It’s a good choice as Ethereum is a leading coin in the crypto market. It has a great potential to...

Read more

Identifying a Suitable Platform from Biggest Cryptocurrency Exchanges

by souhaib
March 8, 2022
0

There are some biggest cryptocurrency exchanges in the market that are known and used all around the globe. However, these platforms offer various services and are not suitable...

Read more

Fantom(FTM), Loopring(LRC) Price Eye Another 20% Upswing, While Avalanche(AVAX) May Witness a 10% Plunge! – Coinpedia – Fintech & Cryptocurreny News Media 2021

by souhaib
February 7, 2022
0

With the Bitcoin price gaining huge strength, the entire crypto space is gaining a good bullish momentum. And hence as the Ethereum price comfortably hovering above $3000, the...

Read more

Where to buy SuperFarm (SUPER) coin: it is up 24% today after Coingecko listing 2021

by souhaib
February 7, 2022
0

The price of the SuperFarm (SUPER) coin has been rising since mid-January and the bullish momentum gathered momentum after today’s listing on Coingecko. To help investors and traders...

Read more
Next Post

Covid: Manchester in limbo as deal deadline passes

No Result
View All Result

Recent Posts

  • NBA: Lamar Odom: “Kobe Bryant appears to me in dreams”
  • Assault on Capitol: Trump, naked | Opinion
  • Where to watch the 4th of July fireworks show in the US
  • In the United States, protests after the video of a black man riddled with bullets by the police, in Akron
  • Beyoncé reveals art from her new album “Renaissance” riding a horse

Browse by Category

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Categories

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Pages

  • Contact US
  • Newsletter
  • Privacy Policy
  • Terms & Conditions

© 2021 - TrendsWide

No Result
View All Result
  • Home
  • Contact US
  • Privacy Policy
  • Trending
  • U.S.
  • Economie
  • Deals
  • Reviews
  • Cryptocurrency
  • Health
  • Life Style
  • NBA

© 2021 - TrendsWide