Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Bitcoin (BTC) Price Attempts to Find Support After Testing $10,000 Level

Published 02/10/2020, 08:56 AM
Updated 05/30/2020, 12:02 PM
Bitcoin (BTC) Price Attempts to Find Support After Testing $10,000 Level

2020 has proven to be positive for Bitcoin so far, with the leading digital currency rising all the way from under $6,900 to over $10,100 in just over a month. While there are numerous fundamental developments that can be credited for the surge, Bitcoin needs to find strong price support now that it has tested $10,000 and fallen below (currently trading around $9,800).

Why Did BTC Price Surge in 2020?

It started with the US-Iran tensions in early January, where many analysts observed that Bitcoin acted similar to gold - like a safe haven asset, in times of turmoil. Following that, we had the Coronavirus outbreak, which further put pressure on global markets and apparently pushed investors towards alternative investments, like Bitcoin.

Finally, we’ve h...


This article appeared first on Cryptovest

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.