RATE Group | Analysts Expect 10% Bitcoin Upside as Price Holds Strong at $8,300
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Analysts Expect 10% Bitcoin Upside as Price Holds Strong at $8,300

03 Oct Analysts Expect 10% Bitcoin Upside as Price Holds Strong at $8,300

Posted at 14:08h in Bitcoin News by

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After last week’s bloodbath, it seems that the Bitcoin price has started to settle. As of the time of writing this (Thursday morning), BTC has found some stability around $8,350, trading up 2% on the day. Altcoins have also started to stabilize and flip green, following in the footsteps of the market leader.

Analysts say that while not decisively bullish just yet, the cryptocurrency market is currently setting itself to achieve more price gains in the coming days. Here’s why.

Related Reading: Rejected? Bitcoin Price Attempts to Break Back Above Vital Moving Average

Bitcoin Bull Case Growing

While fears regarding Bitcoin’s precipitous drop last week are still festering, bulls are starting to return to this market. The cryptocurrency has seemingly staved off a price collapse under $7,700, which analysts say would have preceded a massive capitulation event to $7,000 flat or the low-$6,000s.

Related Reading: Bitcoin to Bottom at $6,000, Surge to All-Time High by Halving: Analyst

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