Bitcoin often dubbed the king coin saw a great flash rise in the price after the Chinese market reopened the previous day. Bitcoin price is now holding strong above the $9300 levels while the traders are hopeful for another rise in the price.
Bitcoin price movement often decides the cryptocurrency price movement in the industry, and thus, the importance of the BTC price movement never gets old.
As witnessed yesterday, BTC price went into a quick climb, but the volatility persists; however, considering the overall price trends, the fluctuation is pretty standard. On the other hand, the market capitalization at the time of writing stands at $169.88 billion United States (US) dollars.
While writing, the price has been fluctuating by a margin of $50, which is 0.53 percent of the current Bitcoin price.
Bitcoin price movement: What to expect?
The king of cryptocurrency is primed for upward movement in the coming days. Cryptocurrency analyst Moiseive Yurii is of the view that the cryptocurrency is going to hit new high within a few days.
Yurii believes that a strong uptrend is playing out at the time of writing, and Bitcoin is likely to hit past the $9600 mark. However, the price movement has defied Yurii’s prediction in a very common Bitcoin move. Such delays in price predictions have been witnessed often.
The global political and economic conditions, epidemics such as Coronavirus, and various other factors play an important role. However, Yuri describes the price support zone within the $9200 and $9300 mark. If the BTC trend manages to break past the resistance mark, a new high seems achievable.
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Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.