Another foray into four figures was short lived today as
Bitcoin has reclaimed $10k for the second time in as many days. The crypto
community has been quiet today but it is still confident of a new high before
the year is out.
Bitcoin Back at Five Figures
Yesterday Bitcoin spent just a few hours below five figures,
dropping to $9,480 before bouncing back. The best part of Thursday was spent in
the $10.1k to $10.4k region but a fall back has occurred during Asian trading
today. This dip to $9,750 was even shorter indicating that there are still a
lot of buyers lurking in four figure territory.
Within the past hour Bitcoin has made it back to the psychological $10k level and is currently trading just above it according to charts on Tradingview.com. The move has maintained the heavy chop on BTC markets at the moment as it remains range bound for now.
The crypto community has been pretty quiet recently but
leading trader Josh Rager posed the premise of a new all-time high for Bitcoin within
the next six months.
“CT is getting a little sleepy Let’s wake up Give this a like if you think $BTC hits new ATH $20k+ in the next 6 months Otherwise, write below when you think Bitcoin price hits new high”
There was a fair bit of response from a number of Rager’s
54,000 followers with most in agreement that Bitcoin will post higher prices in
the coming months. Many agreed that the halving, which is due in May 2020, will
be a key factor in the timing of a new BTC high.
However, if the Litecoin halving is anything to go by some
may be disappointed. Litecoin has been dragged down with the sinking ship that
is currently the altcoin market. Only when they all start to recover will LTC
return to its previous highs. As we have seen countless times, Bitcoin moves
independently to any of the other crypto assets and further accumulation is
likely to be going on while it trades sideways.
Elsewhere on crypto markets today things are pretty flat.
Altcoins have yet to recover from yesterday’s
epic dump which saw almost $30 billion wiped out. Ethereum is still smashed
up at around $185, XRP has done nothing to lift itself off $0.25 and Litecoin
is in pain at $75.
Only the two BTC offshoots appear to be moving a little at
the moment with Bitcoin Cash crawling back over $310 and BSV tapping $135.