The current Bitcoin price’s tendency may please lots of fans worldwide, as it has been going upwards for the 4th night in a row. Yet, today, it has shown a new high time of $8045 per coin. The rate of the coin has increased by 23% since May 10th, analysts are sure that it won’t stop as its next target is $10,000.
However, many technical experts are concerned about the abrupt spike in the Bitcoin’s price, since some indicators demonstrate the oversold conditions of Bitcoin. To the mind of Bitfinex’s Chief Technical Officer Paolo Ardoino, tech giants can easily become potential catalysts in the Bitcoin’s growing price overnight, as they are able to invest more than 100 million dollars on it with no bother.
We remind you that the price of the world’s first cryptocurrency began falling in the middle of June 2018, Bitcoin gave us some hope in August having returned to its price for a short period of time, but then it was constantly falling down. On December 17, it reached the bottom of $3266 per coin. Now the price is slowly recovering to its all-time highs.
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