It is beginning to look increasingly as though Bitcoin’s (BTC) recent rally from its early-January lows of $6,800 to its recent highs of $8,900 is much more than a fleeting relief pump.
BTC bulls have been able to hold the crypto within the upper-$8,000 region for the past day, signaling that buyers currently have enough strength to sustain this rally and possibly even extend it further.
One prominent analyst is now noting that Bitcoin is fast approaching a key resistance level, and if history repeats itself, a break above this level could lead the ongoing rally to turn parabolic, potentially leading it to climb 1,000% or more.
Bitcoin Remains Steady as Analysts Look to Asia For Insight into Recent Rally
At the time of writing, Bitcoin is trading up over 2% at its current price of $8,820, which is around where it has been trading at for the past day. Read More...