RATE Group | Bitcoin Price Daily Gains Hit 3.2% as Analyst Eyes Rebound to $9.2K
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Bitcoin Price Daily Gains Hit 3.2% as Analyst Eyes Rebound to $9.2K

02 Mar Bitcoin Price Daily Gains Hit 3.2% as Analyst Eyes Rebound to $9.2K

Posted at 17:19h in Bitcoin News by

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Bitcoin (BTC) continued to climb towards $9,000 on March 2, reaching a five-day high as markets appeared to recover from coronavirus fears.

Bitcoin

Cryptocurrency market daily overview. Source: Coin360

Van de Poppe: BTC price can reclaim $9K

Data from Coin360 and Cointelegraph Markets placed the largest cryptocurrency at over $8,800 at press time, slightly down from highs of $8,900 seen earlier.

Daily gains for BTC/USD totaled 3.2%, in line with a rebound on some traditional markets as states rush to supply financial stimulus packages to boost their economies.

Bitcoin 1-day price chart. Source: Coin360

While coronavirus continues to spread, it appeared investors were more interested in seeing short-term remedies to limit last week’s heavy losses.

“Reasoning seems to be that, if bad news is good news, then awful news must be fantastic!” market commentator Holger Zschaepitz ironically summarized on Twitter.

Zschaepitz referenced a mainstream media…

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