Bitcoin Steadies Above $9,200, New High in Sights

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Bitcoin looks to have firmed up its support levels above USD 9,000 in the middle of the week, with the day’s low only briefly staggering to USD 9,041, before the past 12 hours lifted the price to trade above USD 9,200, with London trading at 9:00 am UTC showing a price of USD 9,258 (CoinDesk).

Previous to that, Asian Bitcoin bulls took their time but showed familiar strengths as they ensured Bitcoin started Europe trading almost 1% higher than it did 24 hours ago, with significant volumes also registered in Hong Kong, where Bitcoin price has been at a 1% premium ever since demonstrators took the streets to protest against local leadership and a controversial new legislation for extradition.

With the first half of the week showing such promise, Bitcoin bulls are hopeful of yet another new high for 2019, if not an all-out push to break a huge psychological barrier at USD 10,000. Most signs are pointing to the former at least in June, with a first target of USD 9,500 the milestone to watch out for.

Meanwhile, growing hashpower to make the Bitcoin network stronger than ever, increasing number of transactions to prove that utility is expanding, and over a million Bitcoin addresses actively transacting as evidence of growing adoption — all point towards strong fundamentals on the way towards a new bull run.

 

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