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Bitcoin According to the Market Cap

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Bitcoin’s current price is reported as $9,331.84, with a market capitalization of $168.27 USD,at the time of writing.

In the last week of October, we saw a spike in the #bitcoin price, and this jump took the crypto asset from $7,400 to $9,500. It was one of the most substantial gains for BTC in a 24-hour span.

Source: CoinMarketCap

As reported by NewsBTC, by the end of November or the beginning of December, the 50-week and 100-week moving averages will likely show a “golden cross.” NewsBTC further claims that could be far more significant for the Bitcoin market as compared to other cryptocurrencies like Ethereum and Litecoin.

Cryptocurrency trader Josh Rager shared his fresh take on the Bitcoin price in a tweet, referring to the fluctuating situation of Bitcoin and saying the price might touch the $10,000 range. 

Source: https://twitter.com/Josh_Rager/status/1189378662975582209

In other news, crypto analyst Aayush Jindal from Coindesk noticed recently that there was an upside change that raised Bitcoin to the $9,250 level. But it failed to gain momentum above $9,400. A high value was formed near $9,452.

Numerous theories were put forth to account for the sudden price change; most analysts settled on the positive impact of comments made by the People’s Republic of China President Xi Jinping. 

Speaking to a committee in Beijing during the early hours of Oct. 24, President Xi lauded the value of blockchain technology and highlighted the industry as an avenue for China to promote innovation.

Some people believe that the world’s first cryptocurrency is going to decline soon. Others have the opposite view. For instance, the head of business development at Kraken predicts the Bitcoin price is destined to enter a ‘supercycle.

Here at CryptoBloggers, we don't predict what will happen in the #crypto markets. We just write about it.

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#blockchain