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Bitcoin Tops $11K for First Time in Almost 3 Weeks
Bitcoin appears to have broken out of its tight trading range over the past two weeks, between roughly $10,500 and $10,800.
Updated Sep 14, 2021, 10:06 a.m. Published Oct 9, 2020, 10:51 a.m.
Bitcoin broke through $11,000 on Friday, reaching its highest price in almost three weeks.
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- The rise comes a day after payments company Square announced it had put 1% of its total assets into the largest cryptocurrency by market cap.
- Prices hit $11,023 at 11:05 UTC – the highest since Sept. 20, according to CoinDesk's Bitcoin Price Index.
- The rally to $11,000 marked an upside break from the past two weeks' range of about $10,500 and $10,800.
- The cryptocurrency remained fairly steady above $10,000 over the past two weeks, despite news of the KuCoin exchange hack, U.S. regulators bringing criminal and civil charges against BitMEX, and President Donald Trump's announcement he would end talks with Democratic lawmakers over a new fiscal stimulus package.
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Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
Ano ang dapat malaman:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
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