quora Bitcoin Price to Its New 9-month High

Bitcoin Price To Its New 9-month High

For the past five days, the cryptocurrency Bitcoin (BTC) surged sharply. The said digital currency’s price rose above &$7,000 resistance area against the U.S. dollar. The pair BTC/USD surpassed the $7,200 and $7,350 resistance levels.

In addition to that, the price tested the $7,500 resistance level. Then, it ended nicely above the 100 hourly simple moving average. There is also a swing high that reached $7,500 resistance level and recently, the price corrected lower pointedly. It spiked below the $7,000 pivot level and traded below the $7,200 support level.

Bitcoin Price Uptrend

While almost all of the top 20 cryptocurrencies are announcing their losses for the day, bitcoin, on the other hand, grip over the $7,000 mark.

During the day, Bitcoin fell around 1.5 percent. But it still traded at $7,040 as stated by CoinMarketCap. And it also above 6 percent down from its mid-day high of $7,500. However, BTC rose sharply to almost 23% checking at its weekly chart.

Meanwhile, Ether is currently firm at $20 billion. And it still stands as the largest altcoin by market cap. And Ripple’s XRP, second-largest altcoin, has a market cap of $13.4 billion.

For the past 24 hours, ETH dropped over 2.25% and is trading around $189. But for the week, its value grew over 16%.

In the recent forecast of Messari Ryan Sekis, CEO of crypto analytics firm, until 2021, Ethereum version 2.0’s transition to proof-of-stake will not take place.

Then, over the past 24 hours, XRP fell by a fraction of percent. And it is currently trading at about $0.317. For the week, the coin rose 6%.

Aside from that, out of the top 20 cryptocurrencies, only three digital coins are announcing gains on the day. Bitcoin cash (BCH), binance coin (BNB) and dash (DASH) are all up to 2.5%.

Compared to last week, the total market capitalization of all cryptocurrencies is above 17% higher, $212 billion.

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