At the time of writing, Bitcoin (BTC) is trading close to $9,200 after price spiked during the weekend, climbing 18% from $7,800 to $9,250 in just a couple of hours.
Bitcoin experienced a major rally that took its price upwards close to 18% over the weekend. Afterwards, price pulled back closer to its new support level at around $8,800. At the moment, the market is moving upwards with higher lows each time it falls, meaning we should expect BTC to continue its climb towards $10,000 – which in my opinion might come within the next couple of weeks before the end of the month.
Let’s not forget that I consider Bitcoin to be in a bull run when the 20-day EMA is above the 50-day EMA and the latter is above the 200-day EMA. As we’ve already accomplished that goal – not only in shorter time-frames but also in daily and weekly ones as well – I personally think the bears have retreated and bulls are now firmly in charge.
Volume also seems to be increasing as well. Over the past seven days, volume went from $17 billion to $23 billion, retracing today to the $20 billion region.
Putting all this information together, we’re now clearly on the right path to reach $10,000 – or maybe even $20,000 – by the end of 2019.
Of course, if you think I might be overreacting to positive news, you can always check what other expert analysts have to say about this recent price movement.
It's over 9000!!!! pic.twitter.com/cvJX8Blsgw
— Mati Greenspan (@MatiGreenspan) May 30, 2019
Hopefully, the market will continue this positive momentum.
Pay attention to retracements back down towards the 200-day EMA to make new entries.
Current live Bitcoin pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents:
US Dollar – BTCtoUSD
British Pound Sterling – BTCtoGBP
Japanese Yen – BTCtoJPY
Euro – BTCtoEUR
Australian Dollar – BTCtoAUD
Russian Rouble – BTCtoRUB
In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are.
The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On 3rd January 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins.
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*The views and opinions expressed by the author should not be considered financial advisement. The author is not a professional trader, nor investor.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.