RATE Group | Bitcoin Could Hit $9k in Q2 as Price Jumps Short-Term Moving Average
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Bitcoin Could Hit $9k in Q2 as Price Jumps Short-Term Moving Average

20 Apr Bitcoin Could Hit $9k in Q2 as Price Jumps Short-Term Moving Average

Posted at 06:37h in Cryptocurrency News by

Key Bitcoin takeaways:

  • Bitcoin opened this week in positive territory, unfazed by the growing Coronavirus pandemic that crashed its prices by over 50 percent in March.
  • The cryptocurrency remains trapped under the $7,500-resistance but is holding above a crucial medium-term technical support.
  • It could pursue a bull run towards $9,000 in the current quarter as a string of bullish fundamental and technical factors converge.

Bitcoin has been recording back-to-back weekly gains ever since its grim plunge in March of 2020.

On Sunday, the benchmark cryptocurrency fell by 1.80 percent but managed to close the week 3.22 percent higher at $7,130. The move uphill extended a rebound that has boosted bitcoin’s price by more than 85 percent from its mid-March lows.

bitcoin, cryptocurrency, btc usd, crypto

BTCUSD prints five consecutive weekly gains | Source: TradingView.com, Coinbase

Bitcoin’s latest gains came in sync with similar upside moves in the US stock market, showing the offbeat asset’s short-term correlation with…

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