- This week has seen the flagship cryptocurrency go to highs many of us have long missed.
- This had led many to speculate as to what is going to happen next for the leading cryptocurrency.
This week has seen the flagship cryptocurrency go to highs many of us have long missed. At the time of writing, bitcoin is 2.51 per cent in the green leaving it with a value of $8,759. This had led many to speculate as to what is going to happen next for the leading cryptocurrency.
Whereas some analysts believe that the bitcoin bottom is in, others have faith that a pullback might be what is needed in order to consolidate further gains. Such analysts say that there is a big chance that the bear’s grip is no longer in play.
Before we go any further though, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!
Downtrends & Uptrends
In 2019, the highest price that Bitcoin reached was just shy of $13.9k. The leading cryptocurrency sunk by more than half last month with the bearish trend seemingly finishing at the start of this week with Bitcoin climbing above the $8k mark once more - this has fueled investors with hope but concern at the same time.
One analyst took to Twitter to say:
Thinking $BTC goes to $10k-$14k from here— Beastlorion (@Beastlyorion) 14 January 2020
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!