Bitcoin before 10000 USD limit
The No.1 crypto currency will climb above the USD 9800 barrier on Thursday, giving bullish investors high hopes. With the tailwind from the upcoming halving, a swift jump over the magic USD 10000 barrier is now quite realistic. Meanwhile, the traditional markets continue to recover from the effects of the coronavirus pandemic. An optimal basis for Bitcoin…
Bitcoin course in detail
At the time of this article, the Bitcoin is quoted at a rate of USD 9807. This corresponds to a daily increase of a whopping 5 %. After crossing the resistance at 9400 USD, it did not take long for the bulls to attack the current trend line. The hurdle at 9800 USD is the last major barrier before the five-digit USD area. On the downside, the trend line at 9400 USD now forms a new base. Good harbingers for the upcoming Bitcoin Halving Event.
Optimal starting position
When Bitcoin enters the five-digit US dollar range, this usually attracts attention beyond the crypto space. Search queries for the term “Bitcoin Halving” are already at an absolute record level. Should headlines about a five-digit BTC price now enter the mainstream, this could further fuel the hype. The high volatility and a possible FOMO (fear of missing out) could benefit “digital gold” in the coming days.
Halving in 4 days
In just under 4 days the third Bitcoin Halving Event in history will take place. For months experts have been arguing about the possible effects. Whether the event has already been fed into the course remains unclear at first. The influence of the traditional markets also remains questionable. Can Bitcoin, with a market capitalization of around USD 180 billion, decouple itself from the major stock indices in the long term? For a safe answer we must first be patient.
Bitcoin dominance index rising
However, it is a clear fact that Bitcoin continues to displace the alternative assets. On Thursday, the BTC Dominance Index rises to a value of 67.7%. All Altcoins share a market share of “only” 32.4%. This creates a clear dependence on the first mover. Also on Thursday Ethereum and Co. follow the BTC with a slight delay. If the halving goes smoothly, the Altcoins could even participate in this. One thing is certain: …the crypto-space is about to have a landmark weekend.