RATE Group | Bitcoin Returns to Previous Range After Tether Caused Price Surge
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Bitcoin Returns to Previous Range After Tether Caused Price Surge

20 Oct Bitcoin Returns to Previous Range After Tether Caused Price Surge

Posted at 03:25h in Bitcoin News by

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  • Bitcoin had experienced a surge in price over the past few days, largely attributed to the slip on the USD Tether peg.
  • The market has returned to its previous equilibrium level before the surge in price.
  • Support levels moving forward; $6558, $6453, $6261, $6189, $6032, $6000.
  • Resistance levels moving forward; $6639, $6715, $6824, $6862, $7053, $7300, $7431, $7606.. $7857, $8000.

Bitcoin has remained relatively stable over the past 24 hours of trading only moving a small -0.1%. The cryptocurrency king is currently trading at a price around $6583, at the time of writing, after seeing a +3.98% price hike over the past 7 trading days.

The number 1 reigning cryptocurrency in the industry currently holds a $113 billion market cap value and has seen a small -11.65% price decrease over the past 90 trading days, indicating that the bears have lost pace in their quest to push the market lower. Bitcoin is still trading at a price that is 66% lower than its all time high value.

Let us…

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