Bitcoin Down from New High But Firm at $9,150

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Bitcoin Down from New High But Firm at $9,150

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Bitcoin price managed to record yet another high for the year today, after registering USD 9,469 just past midnight UTC on Tuesday (CoinDesk), coinciding with the start of East Asian markets. However, it was unable to hold onto fresh gains, but at the same time, has not traded below USD 9,100 in the past 24 hours as that support level holds firm.

Europe markets have woken up now, causing a sharp dip from USD 9,300 to current levels near USD 9,150 but it will take a few more hours to see where this direction could go. General sentiment does appear to swing back towards a majority of bullishness after the weekend’s rout of the bears, with CNBC’s Fast Money leading the pack and repeating their assessment of a USD 10,000 Bitcoin being along the way.

Some bears who were stubbornly pointing at the very same charts a week ago and predicting that the long-term downtrend is still very much on the cards, warning not to be “fooled by these little “pops” in the market”, have managed to stay silent so far.

Whatever the argument, as time passes and Bitcoin valuation rises, there are fewer days left that had you bought Bitcoin, today would leave you in a negative amount. According to one observer, only 110 days, to be precise.


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