Bitcoin Price Criss-Crosses $9K as Peter Schiff Warns of ‘Collapse’

Bitcoin (BTC) rose to take $9,000 yet again on May 6 as the mission to create new support levels continued.

Cryptocurrency market daily overview. Source: Coin360

Analyst: BTC “doing well” even with $6K dip

Data from Cointelegraph Markets showed BTC, the top-ranked cryptocurrency by market capitalization, grinding upwards overnight on Tuesday, having hit lows near $8,800.

The past week has seen multiple crossings of the $9,000 boundary, with markets still undecided about the area’s strength.

Bitcoin 1-day chart. Source: CoinMarketCap

Previously, Bitcoin had beaten multiple resistance levels to rise from the mid $7,000 range, levels which had long kept it in check. 

“I’ve to say. Since that crash to $3,750, I’m impressed by the strength of $BTC as an asset,” Cointelegraph Markets analyst Michaël van de Poppe summarized on Twitter.

Even in this area around $9,000. It’s doing pretty well.

Van de Poppe added that even a reversal to as low as $6,000 would still qualify as “doing…