RATE Group | Why bitcoin is charging to $10,000
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Why bitcoin is charging to $10,000

28 Apr Why bitcoin is charging to $10,000

Posted at 02:56h in Bitcoin News by

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Why bitcoin is charging to $10,000

Post tax-day rally? The clerical edict that crypto is halal? Institutional money warming to the sector? ‘Whales’ buying with vigour? The penny dropping that regulation is not such a bad thing on the contrary? Or could it be that simply the price of bitcoin fell low enough to attract buyers? Whatever the cause(s), crypto is back with a bang!

It may have been bitcoin that led the sector out of the wilderness, but it’s the altcoins that have been making the most progress, but let’s start with bitcoin.

The top cryptocurrency is up 14.8% this week alone and 12% over the month, its best run since December. Bitcoin broke above its 100-day moving average at $9,300 for the first time since the end of January, although has fallen back since to trade at $8,786.

After an exhilarating rally, the crypto market was hit by profit-taking on Wednesday, suggesting the move to $10,000 may take a little longer than hoped for at the beginning of…

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