RATE Group | Here’s Why a Bigger Price Explosion Is Expected
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Here’s Why a Bigger Price Explosion Is Expected

03 Feb Here’s Why a Bigger Price Explosion Is Expected

Posted at 01:57h in Bitcoin News by

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In the past 20 minutes, Bitcoin has finally exploded higher out of the weekend range, breaking above $9,500 for the first time since the strong top seen on January the 30th. Per data from TradingView, the cryptocurrency just minutes ago hit $9,620 — rallying 2.3% higher in the span of about 10 minutes.

The timing of the surge was eerie: in the same five or ten minutes, Bitcoin surged 2% out of left field as the Shanghai Stock Exchange Composite dropped 8% on the fear of the coronavirus outbreak affecting the economy.

While the cryptocurrency has since retraced slightly, finding itself changing hands for $9,550, analysts say that the latest move in Bitcoin’s price, which sets a new multi-month high, is a precursor to even more gains in the coming weeks.

Bitcoin Poised to Surge Even Higher, Analysts Say

Dave the Wave, a legendary…

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