Bitcoin Eyes Breakout, Rises Above $10,500 As Crypto Market Recovers, How High Will BTC Go?

In the Bitcoin news today, Bitcoin performance in the crypto market has thrown another surprise by proving analysts who predicted more downside for the coin wrong. The price of the coin, on the morning of August 2, surged above the $10,000 mark reaching close to the $10,500 mark. Analysts are already expecting the coin to perform well in the market this August. Josh Rager, a crypto trader, and market analyst stated that the movement of the coin back above $10,000 is finally showing some nice follow through. “A close above previous 4hr resistance is a nice sign. The good news about the death cross is that it leads to a golden cross as the 50MA is already starting to turn up”, he remarked. He concluded by saying the month of August could turn out to be good in his opinion.

Bitcoin Price Prediction – Bitcoin Latest Update – Bitcoin Price Analysis – Bitcoin Bulls Up For The $10,600 Resistance

In the Bitcoin Price Analysis, according to popular crypto trader and analyst, Filb Filb, the next significant resistance level to upend is around the $10,600 mark. Filb Filb in his recent write up on his telegram journal indicated that the performance of the coin in the making doesn’t hint at a bullish turnaround considering the fact that the squeeze up for the coin continues on a very low volume.

Bitcoin (BTC) Price Today – BTC / USD

Name Price
bitcoin
Bitcoin
$9,982.81-1.76%

According to reports from the popular crypto blog, Cointelegraph, the new return of Bitcoin above the $10,000 occurred almost at the same time with the rate cut by Fed that happened during the week which stimulated excitement among traders in the crypto market. According to Cointelegraph, some commentators in the crypto community noted that it was the first-rate cut since the creation of the coin about ten years ago.

Cryptocurrency News Today – Ethereum And Other Altcoins Still Weak – Cryptocurrency Latest Update

In cryptocurrency news today, The altcoins have struggled to keep up the price of Bitcoin despite the fact that sideways action has defined the top twenty altcoins, according to Cointelegraph. From observations of the statistics of the past seven days, Bitcoin has seen a gain of over 5% while Ethereum has been down by 1.4%. Ripple’s XRP has also been down by 3% during this period. Significant gainers among the altcoins include Litecoin (LTC) which has gone up by 3% in the last seven days. This halving of Litecoin (LTC) will occur in about four days. Monero (XMR) and Tezos (XTZ) are two other altcoins that have seen a notable increase in their gains; going up by 3.8% and by an impressive 13% respectively.

At the time of writing, the total cryptocurrency market capitalization stood at $283 billion, with Bitcoin owning 65.8% of this value.

Cryptocurrency Latest update – Content Creation and Cryptocurrency

In cryptocurrency latest update, a Blockchain firm, Props — an Ethereum-based token created for easy implementations in external applications for rewards has received approval from the United States Securities and Exchange Commission to offer its token under Regulation A+, according to Cointelegraph. The Prop network’s first app is reported to be YouNow. YouNow is a streaming service which will give token rewards in exchange for streaming.

In other cryptocurrency news, these are some of the headlines:

Software Firm, R3, Doubles Its Office Size In London As It Anticipates Huge Growth.

Blockchain Browser, Brave launches Token Tipping Service For Twitter Users (Source: Cointelegraph).

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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