- Bitcoin (BTC) recovers over the $7500 range
- Bitcoin might hit the $8,100 mark before facing any major resistance
- Bitcoin carries the rest of the market along
Bitcoin News Today – The digital currency markets are gradually improving, as most of the coin in the market are now in the green. Bitcoin (BTC) has also been showing signs of recovery, as it just broke over the $7,500 level. BTC started yesterday at the $7,190 mark, at which point the digital currency found a daily low of $6,900. Shortly after that, Bitcoin started its upward trend towards the $7,500 range.
Bitcoin (BTC) has been on a rollercoaster ride over the past two days. However, over the past twenty-four hours, the digital currency has been able to amass gains of more than 5 percent.
Bitcoin (BTC) Price Today – BTC / USD
Bitcoin Might Break Over $8,100 before Any Major Resistance Could Set In
According to Horus Hughes – a Cointelegraph contributor – Bitcoin (BTC) could surge to $7,800 and even break over $8,100 before it might face any major resistance. He also noted that BTC had to close over the former support at $7,400 for it to push closer to the $7,800 resistance. Hughes said that it seems unlikely for the price of BTC to plunge to the $5k range again, but it is good for one to consider bearish and bullish scenarios. In a statement, he said:
“One would like to think that a drop to $5,500 will be avoided if bulls can keep the price above $7,300 and $6,700.”
Meanwhile, Peter Brandt – commodities trader and technician – recently said that he believes that Bitcoin could spend a few months trading at $5,500 before consolidating higher.
Ethereum (ETH) Continues to Trade in Sync with Bitcoin (BTC)
Ethereum (ETH), the second-largest crypto and the top altcoin by market cap – has been trading in sync with Bitcoin. The digital currency recently bounced off an intra-day low of $143 before it surged to its current price range. Ethereum (ETH) is currently trading at $152 after an increase of three percent over the past day.
Another Cointelegraph contributor noted that if the bulls can push the price of Ethereum over the $151 mark, the digital currency would pick up traction and possibly break over the $173 price range. The third-largest crypto by market cap – XRP – is also following the trend of the day. At press time, XRP is trading at $0.227 after an increase of about 2.5 percent over the past day.
Almost all the top twenty coins in the market are in the green. Some of the top gainers over the past day are Monero [XMR], Tron (TRX), Cardano (ADA), with an increase of 6.65 percent, 4.95 percent, and 5.11 percent respectively.