Bitcoin's price rose above $8,100 for the first time on Sunday.
Data from CoinDesk's Bitcoin Price Index (BPI) indicates that the price climbed to $8,101.91 between 20:00 and 20:15 UTC. This move came after bitcoin – which toed the $8,000 line during Friday trading – crossed that threshold several hours earlier.
That the price of bitcoin would surge above this height was in the cards last week, as was suggested by analysis at the time. Conversely, last week saw some dramatic movements on the price front, with markets dropping below $6,000 only to recover days later. Market commentary throughout the week was led, in part, by speculation around pending futures product launches and interest among institutional investors overall.
Indeed, the move confirms a possibility floated by analysts from investment bank Goldman Sachs earlier this month. The firm's analysts have published several forecasts since earlier this year, notably predicting some of the developments seen over the summer.
It's been bobbing up and down the $8k line for some time now. We have yet to see if a pull back will happen to gain a better momentum upward.
Source: CoinDesk
a-ads
Subscribe to:
Post Comments (Atom)
Popular Posts
-
The crypto services firm is connecting high-frequency traders who use electronic trading platforms to crypto exchanges. via CoinDesk
-
Many people ask "When is the best time to buy Bitcoin?" or "Will the price go down? I want to buy, but should I wait?" ...
-
Silicon Valley cryptocurrency unicorn Coinbase has taken an unusual and expensive step to recruit and retain diverse employees. via Coin...
-
The Hong Kong securities regulator, the SFC, has announced that tokens issued via initial coin offerings may be classified as securities. ...
-
The first code for bitcoin scaling proposal SegWit2x has been released for testing. Notably, it might be compatible with another proposal, B...
-
.@SingularDTV Creates Entertainment Division https://t.co/gaJBckW0Rt [MORE]
-
Bitcoin looks north following a bullish technical breakout. via CoinDesk
-
The Cup and Handle Chart Pattern Analysis is one of the most widely recognized chart pattern. Perhaps the Cup and Handle pattern competes ...
-
On a relatively new exchange like the Antigua-based FTX, the order book depth, as represented by the number of buy and sell orders at each...
-
More than 80 representatives from a variety of cryptocurrency projects and companies spent four hours calling for clarity around ICOs and ...
No comments:
Post a Comment