Bitcoin price SURGE: Why is BTC rising? Will bitcoin surge past $8K?
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Several days ago Bitcoin hit a low reminiscent of the middle of November why is bitcoin rising right now year. Many, mostly in traditional financial sectorstalked about the bubble bursting.
The sky was falling, the world was ending. However, the past few days have seen a ray of sunshine in the form of the U. Their testimonies showed that they have at least a passing understanding of blockchain technology and cryptocurrencies. They essentially broke it down to a policy of do no harm and light regulation in order to spur technological innovation. That morning, making a Bitcoin price forecast was super easy, it was going to go up.
So what is the next big Bitcoin price move? Barring any drastic negative news, things should continue positively. We seem to have entered a period of consolidation where a new new local high was followed by a higher low and another higher high was followed by another higher low. That type of consolidation shows that maybe the bear run is over and the sell off has ended.
It has now settled back into a lower volume period. Looking at a 4-hour chart of Bitcoin price shows that a third period of buying over selling is about to close. Volume is quite low why is bitcoin rising right now now but hopefully the upward trend will continue to build momentum. This past six weeks was tough to do a Bitcoin price forecast. It seemed that any time the price might turn around or that the why is bitcoin rising right now off might stop, bad news showed up.
This trend continued all through January why is bitcoin rising right now February did not start much different. There was worry over China cracking down and banning cryptocurrencies. Now it seems to have been the work of a hacker. There is no event scheduled for February 14 th in which China would announce a ban on cryptocurrencies. Those two items mean that many are creating a Bitcoin price forecast with a fast upward climb.
Right now Bitcoin is trading just above the volume weighted average price, but far below the day moving average MA. Bitcoin is moving generally toward MA though.
It seems like why is bitcoin rising right now next twelve hours could decide what happens. A continued upward trend could be a sign that we are ready for another bull run on Bitcoin price. Now, remember this is all information, not financial or investment advice. We are only analyzing some aspects of the entire market. We are not advisers and one should do their own research before investing in anything.
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