Bitcoin (BTC) Rally Through $8000 And May Hit $9000 Very Soon

After the price of Bitcoin (BTC) crashed last year, many digital asset investors exited the crypto space. The crash of the crypto market was a very harsh reality for a lot of digital asset investors. The crypto market recovering this year after the price of Bitcoin (BTC) plunged to a low of $3,200 in December 2018. The market is now booming, and it is now looking more appealing to many digital asset investors. Bitcoin has broken over several resistance levels and Bitcoin price prediction 2019; this has ignited the return of many digital asset investors into the crypto market.

BTC just broke over the short-term Bitcoin price prediction 2019. This massive surge in the price of Bitcoin (BTC) is attributed to some bullish Bitcoin news today. However, Bitcoin is not the only digital currency experiencing these gains. Ethereum (ETH), XRP, Bitcoin Cash, Ubex (UBEX), and several others are also trading in the green. Here are some factors contributing to the massive surge of BTC USD price.

The entire digital currency market is buzzing at the moment. A majority of coins in the market are testing new yearly highs. Bitcoin (BTC) – the world’s largest cryptocurrency – is also testing new yearly highs. The price of Bitcoin (BTC) just hit a new yearly high, and the digital currency is still surging higher. BTC USD price just broke over the $7900 level and going through $8k.

Bitcoin News Today – The Next Halving of Bitcoin (BTC)

Bitcoin (BTC) has a limited supply. The maximum number of Bitcoins that can be mined is 21 million. Once the 21 million coins are mined, more BTCs can’t be mined again. Once all the coins are mined, it would create some sort of scarcity, and this would result in an increase in the price of Bitcoin (BTC). Halving usually takes place every four years. The halving reduces the reward for mining by half. The next halving will take place in 2020, and it will reduce the reward for miners from 12.5 to 6.25 BTC, this will slow down the issuance of coins

Bitcoin (BTC) Price Prediction

Bitcoin (BTC) Price Today – BTC / USD

NamePrice24H %

At the time of writing, BTC us price is $7,900 after an increase of more than 18 percent over the past twenty-four hours.

It broke the $7,200 and $7,500 resistance levels, plus remained well above the 100 hourly simple moving average. Finally, the bulls were able to clear the last swing high near $7,580 and pushed the price towards the $8,000 barrier. There was a clear break above the $8,000 barrier and the price posted a new 2019 high close to $8,180.

The pair seems to be ready to clear the triangle resistance at $8,050 and trade towards the $8,172 swing high. Additionally, there are high chances of a break above the $8,200 and $8,320 resistance levels. The next stop for the bulls could be $8,500. According to the latest Bitcoin price prediction on Newsbtc; the overall price action is super bullish, with technical indicators pointing a run towards $8,500 or even $9,000.

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Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.


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