Friday, February 16, 2018

Bitcoin price breaks back over $10,000 per coin, but resistance level very strong in trying to hold it

It didn't take long for Bitcoin to push back over $10,000 per coin level after finally breaking out from its week long range of between $7500 and $9000.  However this psychological level is showing hard resistance as Bitcoin has bounced back below it three times in the past 24 hours.

Virtual currency bitcoin climbed back to $10,000 per token for the first time in two weeks. Some experts say that this psychologically-key level may bring new enthusiasts to the crypto market. 
Bitcoin had previously lost nearly two-thirds of its value in a sharp plunge from a historic high of $20,000 in mid-December to below $6,000 last week. The cryptocurrency was trading at $10,044 at 9:40 GMT, according to Coinmarketcap.com. 
The recovery of bitcoin and the crypto markets in general was reportedly spurred by the US Senate's cautiously-optimistic response to calls for stricter regulations. – Russia Today

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