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In Bitcoin (BTC), there was a serious increase in the last 24 hours, followed by a partial withdrawal. Major crypto assets experienced an intense uptrend from $ 7,700 yesterday to $ 9,500. Bitcoin is trading at $ 8,824 at the time of writing.
This excessive upward trend has completely changed the structure of the Bitcoin market and has caused many crypto asset analysts to change their forecasts. Although this short-term rise does not believe this level is easily exceeded, according to analysts, this may raise the leading crypto asset above the $ 10,000 level.
Despite the fact that Bitcoin has expanded its current recovery to a level of $ 10,000, intense resistance to this psychological level can cause a terrible liquidation. If this probability arises, Bitcoin may face yet another rejection of the five-digit price zone, and the consequences can be dire for the leading crypto asset. Due to the short-term pump that lived in late 2019, BTC rose to the $ 10,500 level and, as a result, retreated to $ 3,800 in mid-March.
Similar price movements may reappear soon, unless the bulls provide sustainable buying pressure.
