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Bitcoin looks well as it fights off bearish momentum

Bitcoin looks well as it fights off bearish momentum

Quick take

1 minute read

  • Currently priced at $18,100, bitcoin has been performing extremely well over the past few weeks. 
  • Many people are predicting that the currency is well on its way towards $20,000 and funnily enough, they may not be wrong.

Currently priced at $18,100, bitcoin has been performing extremely well over the past few weeks. Many people are predicting that the currency is well on its way towards $20,000 and funnily enough, they may not be wrong.

Before we go any further though, it is worth mentioning that we are not financial advisors and this is not financial advice. Please do your own research before investing in crypto assets like bitcoin.

The ball is very much rolling for bitcoin currently as it is in the most exciting position that it has been in, in a long time.

If this positive movement can continue over the next few days/weeks, it could mark the eight-week price spike for the leading crypto coin. The sentiment throughout the industry that has sent bitcoin to $18,000 is very much still in action though but has yet to be tested.

For Bitcoin, the future is looking up as the price has broke out for a second time earlier this week. Some believe that the Bears are just building up on momentum at the minute and the bulls of the industry will need to prepare for such momentum. Even though bitcoin could correct n the short term, it still may be able to regain its value.

All of this occurs for bitcoin as alternative cryptocurrencies are dealing with some minor pressure from the Bears. The second-biggest cryptocurrency in the industry ethereum, recently passed over $500 for the first time in two years indicating a positive future for the coin.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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