Bitcoin and the aggregated crypto markets have extended the upwards momentum that they first incurred over the past week, which has allowed BTC to surge towards $12,000.<\/p>\n\n\n\n
This bout of increased buying activity has signaled that the cryptocurrency is still in the throes of a bull market, despite its recent pullback to $9,100, and analysts are now noting that the cryptocurrency does not face any significant resistance until the upper-$13,000 region.<\/p>\n\n\n\n
At the time of writing, Bitcoin<\/a> is trading up over 8% at its current price<\/a> of $11,820, which marks a significant increase from its 24-hour lows of $10,800, and only a minor decrease from its daily highs of $11,900.<\/p>\n\n\n\n Today\u2019s price surge came about after a long period of downwards pressure that was first sparked in late-June when Bitcoin ran to $13,800 before facing a sharp sell-off, which subsequently led to a month-long period of increased selling pressure and choppy trading that tempered the overall market sentiment.<\/p>\n\n\n\n Despite this, this period appears to have ended when Bitcoin dropped to lows of $9,100 in late-July, which sparked an uptrend that has led the crypto towards its current price levels.<\/p>\n\n\n\n Jonny Moe, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that he does not believe Bitcoin is done surging just yet, noting that it may be consolidating right now before it adds another leg to its journey upwards.<\/p>\n\n\n\n \u201c$BTC intraday looks like we should be headed higher shortly,\u201d he explained.<\/p><\/blockquote>\n\n\n\n