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The price of bitcoin is under $ 100 after exceeding $ 10,000 after showing a strong week momentum and volume. In Hong Kong and South Korea, the price of bitcoin has already reached $ 10,000.
What will follow after $ 10,000?
For many months before November 2017, the $ 10,000 threshold was considered a major psychological support for most merchants as it marked a milestone for bitcoin. But once Bitcoin surpasses the $ 10,000 mark, investors will turn to mid-term support levels of $ 12,000 and $ 14,000 and anticipate a potential move of $ 20,000 to $ 20,000.
In less than three weeks, the price of bitcoin went from $ 6,500 to $ 9,900, after a 30-minute candle took the value of bitcoin from $ 6,500 to $ 8,000. $ 000. Bitcoin daily trading volume has reached nearly $ 8 billion, but the daily volume of transactions on the entire market has fallen by more than $ 6 billion in the past two days, which means that Interest in alternative crypto-currencies Bitcoin and Ethereum, two of the most valuable crypto-currencies on the market.
In periods of extreme volatility, market change, and recovery, major cryptocurrencies tend to outperform tokens, as investors try to minimize risk. But, if Bitcoin and Ethereum continue to support their strong momentum, it is likely that the altcoin season will appear in the near term as investors begin to take more risks and place large orders on the chips.
In the past 24 hours, tokens such as WanCoin, ICON, Decentraland, and Ontology, which have shown significant gains against bitcoin and the US dollar over the last 3 weeks, have experienced losses of the order of 3 to 10%.
As the NCC reported on May 4, traders and investors are already turning to the medium term, waiting for the price of bitcoin to reach key levels in the weeks to come up. If the price of bitcoin surpasses the $ 10,000 mark, since bitcoin has evolved gradually over the last three weeks without major spikes, it is likely that bitcoin will continue to gain momentum until $ 12,000
Brian Kelly, an investor and contributor to CNBC's Fast Money, said the price of bitcoin will continue to rise in the near term as more and more banks like Goldman Sachs begin to negotiate term bitcoin for their customers.
Even more so, as recently reported the nonprofit Coin Center organization, the government clarified that bitcoin is not a security, reassuring investors that bitcoin as currency and asset does not require SEC approval.
"It's a complicated area, because, as you said, there are different types of cryptoassets, let me try to divide them into two areas." Exchange, the one that is most often cited, is Bitcoin.In replacement of the currency, this has been determined by most people as not being a security, "said Jay Clayton , president of the SEC.
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