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Bitcoin Shrugs Off Selling Pressure to Start Week Above $8,000

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Bitcoin prices have begun to found some solid ground after yesterday’s bulls ensured that most of the losses from reaching a 2019 high were recovered. Even under intense selling pressure from speculators looking to take quick profits from the recovery, Bitcoin price has still survived Monday’s Asian trading to level at around USD 8,000 as it waits for Europe Monday trading to assume.

The recent break out is still seen as a significant sign for the cryptocurrency market, especially in the face of a lack of major news announcements compounded by the huge pullback. Analysts such as CryptoMonk believe these are the early sparks that will set off a large appetite for buyers to head towards USD 9,000, if they can withstand further profit taking at that level.

Another crypto analyst, The Cryptomist, opined that a huge movement for altcoins may occur towards the end of this month, thanks to the upswing of Bitcoin, which has continued to outperform most other altcoins.

Whatever the movement, Bitcoin is certainly making new impressions on the mainstream. Yesterday, CBS 60 minutes featured an entire hour with Anderson Cooper to interview the man who bought pizzas for 10,000 Bitcoins, at a time when Google search interest in the world’s foremost cryptocurrency has hit a 15-month high. And apparently, people on the streets are now stopping each other to talk about Bitcoin.

 

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