12000 USD mark within reach
The bulls are taking over again on Thursday and they are maneuvering the BTC into sight of the important USD 12000 mark. At the same time, investors are pumping billions more into the market, with many indicators pointing to a sustained bull run. Let’s take a look at what is happening in the crypto space.
Bitcoin: The price in detail
At the time of writing, the market leader is at a price of USD 11833, which corresponds to a daily gain of 1.49%. After breaking resistance at 11800 USD, the bulls are now targeting the 12000 USD barrier. Shortly after this follows the previous year’s high at 12034 USD. Should the bulls break the previous top, they would then run towards the resistance at USD 1200. On the downside, the next support lines are now at 11800 USD and 11600 USD.
What are the signs of a new annual high?
After isolating itself from the traditional markets, the No.1 crypto currency has been able to settle in the five-digit USD range for weeks. Similar to the precious metal gold, more and more investors are seeing that the Bitcoin brings with it valuable properties. As a “Store of Value”, the “digital gold” is more than ever recommended as a reliable store of value after the third BTC Halving Event. The inflation rate of less than 2% and the limited reserves provide real arguments against FIAT money. In addition, more and more investors from the mainstream are moving their capital into alternative assets. It is not for nothing that the gold price climbed to an absolute record high this week.
What are the Altcoins doing?
Most Altcoins follow the first mover on Thursday. Ethereum continues to hold above the USD 400 mark, while BTC Cash (+ 6.37%) has the highest price gain in the top 20. Chainlink is now trying its hand at the important USD 10 mark after reaching the all-time high. Currently, the Bitcoin Dominance Index is at 61 %. All Altcoins share a market capitalization of 39 %.