During the last couple of days, the price of the biggest crypto asset, Bitcoin (BTC), has stabilized at last as the market shifted after a sudden uptrend that resulted in a 43 percent raise. Last week, the digital currency reached the 9,200 USD mark and, after that, it quickly went down to 8,600 USD where it seems like the value of Bitcoin is trying to stay. A major Bitcoin price increase is predicted to take place soon.
At the same time, many crypto traders are saying that this will possibly lead to Bitcoin dropping its value to 7,000 USD. An analyst of crypto assets has also said that this might be the start of a new price raise. According to TrendSpider, a crypto asset charting account on Tweeter, the weekly chart of Bitcoin, in combination with the volume profile that moved Bitcoin from the price range of around 4,000 USD up to 14,000 USD in a matter of months, is taking a bullish path. The price of the first crypto coin is currently settled on a point of high volume showing that there is support in mid-8,000 USD.
As the supply of liquidity of this digital asset up until 10,000 USD is low, even a slight move of the price can kickstart an upward rally that will push the coin to its resistance level up to 5 digits. Also, it is not only the volume of the currency that suggests that Bitcoin may soon go for a Bull run.
According to Ethereum World News, a crypto trader yesterday stated on Tweeter that when Bitcoin hits 8,400 USD the price of the coin is going to increase by 20 percent to 10,000 USD. The trader also emphasized that 8,400 USD is an important point for support to Bitcoin.
The Bitcoin halving is approaching and prices are expected to go up. To find out more information on the most prominent cryptocurrency, Bitcoin & its price, check out at Bitcoin Price updates and Bitcoin (BTC) Price Predictions.