Forex and Crypto News

Bitcoin is approaching $8000

10:40 07 January /2020

Starting on January 3, when Bitcoin surpassed the $7,000 mark, it receives support, which allows it to maintain an upward trend. At the time of publication, Bitcoin is traded at $7,860, and its market capitalization is $142.46 billion.

If you look at the 4-hour BTC/USD chart, you can see that the price of Bitcoin grew in 2 stages. At the first stage, Bitcoin rose from $6,930 to $7,330. The second phase began on the night of January 6, when the price rose from the $7,500 area to the $7,900 area.


And now, some traders have begun to expect a break above $8,000. However, we see a correction, and the price movement in the region of $7,870.

According to analysts, Bitcoin should overcome resistance at $7,800. In this case, he will be able to update the fundamental values ​​and resume expansion.

Bitcoin is slowly, but still moving up. Already today, BTC should overcome the milestone at $8,000 if support, primarily in Asia, continues for at least several hours.

Galaxy Digital CEO Mike Novogratz believes that the worsening of US-Iranian relations after the liquidation of General Soleimani will become a driver of bitcoin growth.

Now the coin is growing due to the support of Middle Eastern investors, in parallel, gold jumped to a new maximum (gold is trading in the area of $1565).

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