RATE Group | Bitcoin stalls at key $10,000 resistance level, but has significant upside if it can bre…
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Bitcoin stalls at key $10,000 resistance level, but has significant upside if it can bre…

20 May Bitcoin stalls at key $10,000 resistance level, but has significant upside if it can bre…

Posted at 19:33h in Bitcoin News by

Bitcoin chart4Finviz

  • Technically speaking, bitcoin has stalled at a key resistance level: $10,000.
  • The cryptocurrency had been widely expected to break higher in anticipation of a halving, which occurs every four years and is when crypto miners’ bitcoin payout is cut in half.
  • Despite bitcoin’s recent sell-off, the cryptocurrency could see significant upside if it eventually breaks through the $10,000 price level.
  • Visit the Business Insider homepage for more stories.

Technically speaking, bitcoin has stalled at a key resistance level: $10,000.

The cryptocurrency had been widely expected to break higher in anticipation of a halving, but instead it sold off. 

A typical “sell the news” event.

A halving in bitcoin occurs every four years, and is when crypto miners’ bitcoin payout is cut in half, limiting the supply of new bitcoin that is coming into the market.

Meanwhile, some investors, like Paul Tudor Jones, are investing in bitcoin to protect against inflation, and others, like Chamath…

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