Bitcoin Uptrend Remains In Place But Price Gets Rejected At $10,000
It has been a noteworthy week at the Bitcoin price, yet one that won’t end on a high. After an effective trend which saw the value recoup from a dip to below $9,000, the week-high was just shy of $10,000. A mental barrier for merchants and investors which will demonstrate hard it is to overcome.
Just like how it was expected by all, the Bitcoin price did not hit that famous five-digit number. Prior to today, it appeared the uptrend was still in effect, yet the momentum has turned against cryptocurrency for some obscure reason. A $400 difficulty isn’t new in the cryptocurrency world; however, it will overwhelm a couple of people.
The Bitcoin price has lost about 4% in value in the course of recent hours. Contrasted with the attack clients’ witnesses during Q1 of 2018, the current Bitcoin price is in a decent place. It appears to be likely the uptrend will be continued soon this week, yet that is no assurance for outperforming $10,000 this time around.
The Bitcoin trading volume remains high, this is constantly positive. Yet the general crypto volume has dropped by a few billion in the previous 24 hours, Bitcoin still creates $7.455bn with no issue. This is additionally one of the reasons why BTC is Bitcoin and not Bitcoin Cash, as the demand for the biggest cryptocurrency is just incredible. The market chooses which currency is Bitcoin, and its staggering support rules out open debates.
The way things are at this moment, OKEx is the greatest Bitcoin trading platform. Truth be told, the trade has six pairs in the main 11, yet none of them are identified with fiat currencies. Bitfinex is in second place, trailed by Binance. With only two fiat cash pairs in the best five, it’s not hard to see any reason why the Bitcoin price has made a stride back.
For the time being, one needs to keep a watch out what the future will bring at the Bitcoin price. It looks evident that the uptrend hasn’t been broken, and the resistance at $10,000 wasn’t really surprising. The current Bitcoin price is close to a similar value as it was toward the beginning of December of 2017. Everybody knows how that run finished, in spite of the fact that may not happen anytime soon.
