With Bitcoin price again climbing to $8K during early Asian trading, all eyes will be on the SEC this week and a possible deicision on the VanEck Bitcoin ETF.
Bitcoin Price Bounces Back to $8K
Just a few hours ago Bitcoin price 00 reached its resistance point again posting an intraday high of $8,250 according to Coinmarketcap.com.
Momentum initiated Sunday morning when BTC defied analysts’ expectations of a pullback and surged 9 percent in a matter of hours. The bullish pressure has continued culminating in a return to Bitcoin’s 2019 high.
A sharp retracement followed, however, resulting in a drop back to $7,930. Since then BTC has slowly crept back up and is over $8,000 again.
The past week has been extremely bullish with a gain of over a thousand dollars since the same time last Monday. Bitcoin has surged 14 percent in seven days and looks set to push higher. Full time crypto trader ‘The Crypto Dog’ noted;
Hell of a bullish weekly close on #Bitcoin with near record breaking volume, solidifying the strength and validity of this rally.