RATE Group | Bitcoin recovery to $10,000 could be just the start of bull run – analysts
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Bitcoin recovery to $10,000 could be just the start of bull run – analysts

10 May Bitcoin recovery to $10,000 could be just the start of bull run – analysts

Posted at 02:47h in Bitcoin News by

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(Kitco News) – Bitcoin is garnering new attention as the price of the cryptocurrency recovers its losses from March’s massive selloff that was caused by COVID-19 devastating the global economy.

This week bitcoin made a solid move towards $10,000, with prices trading at their highest level since late-February. According to one analyst, the digital currency could end up pushing towards $13,000 a coin.

“Bitcoin is in an extended period of trading within a range and will eventually break out higher, in our view,” said Mike McGlone, senior commodity strategist at Bloomberg Intelligence. “We see bitcoin as a consolidating bull market with a firming price foundation. The way we see it, the longer Bitcoin stays above $8,000, the firmer the foundation for advancing

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