RATE Group | Bitcoin Rips to $6,750 In Move Reminiscent of Last Year’s 25% April Fool’s Rally
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Bitcoin Rips to $6,750 In Move Reminiscent of Last Year’s 25% April Fool’s Rally

02 Apr Bitcoin Rips to $6,750 In Move Reminiscent of Last Year’s 25% April Fool’s Rally

Posted at 01:22h in Cryptocurrency News by

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Since NewsBTC’s last market update, Bitcoin has continued to rip higher, recently hitting $6,750. With this, the cryptocurrency is up nearly 9% from the daily lows around $6,200, and up over 16% from the weekend lows at $5,800.

Although not on the same magnitude, many have likened Bitcoin’s recent price action to the 25% surge seen on April Fool’s and April 2nd last year, which was a move that kickstarted a rally from the $4,000s to $14,000 by mid-June.

Analysts believe that the cryptocurrency could continue higher.

Could Bitcoin Continue Even Higher?

Prominent cryptocurrency trader Flood, who called Bitcoin’s weekend move under $6,200, recently wrote that the cryptocurrency next’s stop is likely $8,000. His charts show $8,000 as a key resistance and $7,000 to $8,000 as no man’s land from a volume profile perspective.

Also, according to Bloomberg, the recent price action has allowed a key buy…

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