RATE Group | Analysts Expect Bitcoin to Fly Past $10,000 Because of These Key Factors
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Analysts Expect Bitcoin to Fly Past $10,000 Because of These Key Factors

02 Feb Analysts Expect Bitcoin to Fly Past $10,000 Because of These Key Factors

Posted at 19:50h in Bitcoin News by

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Bitcoin (BTC) is currently in the process of revisiting its recently established 2020 highs of $9,550, with its ongoing upsurge coming close on the heels of yesterday evening’s selloff that led the crypto to dip as low as $9,200.

Bull’s ability to post a strong defense of this level suggests that the cryptocurrency could be on the cusp of setting fresh 2020 highs, and there are a few key factors that analysts are watching that could suggest BTC will soon break into the coveted five-figure price region.

Bitcoin Rallies Towards $9,500 as Analysts Watch for BTC to Set Fresh 2020 Highs 

At the time of writing, Bitcoin is trading up just over 1% at its current price of $9,450, which marks a notable climb from daily lows of $9,200 that were set overnight when bears attempted to invalidate the cryptocurrency’s recent uptrend.

Because bulls were able to post a strong a defense of the support that exists around $9,200, it does appear to be increasingly likely that the cryptocurrency will…

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