What is the recent situation of Bitcoin (What is the reason for the recent rise of Bitcoin)
What is the recent situation of Bitcoin? According to Bitcoinist news, the rece
What is the recent situation of Bitcoin? According to Bitcoinist news, the recent trend of Bitcoin is very strong. In terms of price, the support level running above $10,000 is relatively low; and from a technical analysis perspective, BTC has broken through the high point of May and then fallen back. It is currently in a downward channel, but if the price can be maintained above this level, it may continue to rebound to below $23,000.
However, one point is still important for Bitcoin. Because according to historical data, when the price breaks through key support, further decline may occur. Therefore, we should closely monitor its volatility and price behavior.
What is the reason for the recent rise of Bitcoin
According to CCN news, the recent rise in the price of Bitcoin is difficult to understand, but this is not the only factor. In the cryptocurrency industry, more and more traders are beginning to pay attention to this issue. According to CoinMetrics, the price of Bitcoin has risen to around $10,000 since the beginning of 2019. In addition, many analysts believe that Bitcoin may once again break through this level. In the first half of 2019, the correlation between Bitcoin and the stock market reached its highest value in nearly a year. In the first quarter of 2020, the interest of investors and traders increased, leading to a surge in BTC/USD prices. However, in the second quarter, as the market gradually recovered from the economic impact of the COVID-19 pandemic, this situation changed and the BTC price rose, while other major altcoins (such as XRP, LTC, etc.) did not show a similar upward trend.
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