RATE Group | Bitcoin Just Painted a ‘Golden Cross’ But Is $10,500 Now Achievable?
88744
post-template-default,single,single-post,postid-88744,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Just Painted a ‘Golden Cross’ But Is $10,500 Now Achievable?

20 May Bitcoin Just Painted a ‘Golden Cross’ But Is $10,500 Now Achievable?

Posted at 09:22h in Bitcoin News by

Bitcoin (BTC) price remains in a somewhat neutral zone, caught between two highly consequential paths. For the past week, the top-ranked digital asset on CoinMarketCap has struggled to push above $9,900 in order to attack the $10K mark. 

On Tuesday morning Bitcoin made another attempt at $10,000 when the price quickly rallied to $9,900 as some sort of hiccup in the BitMEX trading engine caused the exchange to cut out for nearly an hour. The move didn’t last long and for the remainder of the day, the price remained pinned below $9,800. 

Yesterday the mining difficulty rate dropped by 6%, meaning some miners who shut down their operations due to the block reward reduction and current Bitcoin price may also find it easier to mine Bitcoin after the difficulty adjustment.  

Crypto market weekly price chart. Source: Coin360

As mentioned earlier, Bitcoin is currently at a ‘crossing the Rubicon’ moment. Some traders believe that if the asset can rally to $10,200 and close above this…

Source link

Tags:
, , , , ,