Bitcoin closes above $ 10,000 for 63 days in a row.
The currency broke its own record at the end of 2017.
Many view this trend as a bullish factor for Bitcoin..
International consortium of news organizations developing transparency standards.
Last Sunday, bitcoin closed at $ 10,793. Thus, the cryptocurrency has been completing trades above the psychological level of $ 10,000 for 63 days in a row.
A trifle, but nice
Despite the absence of breakthrough records recently, the bitcoin rate (BTC) has nevertheless updated the piggy bank of its achievements. According to the analytical resource Messari, the first cryptocurrency in the world has been closing above the key psychological mark of $ 10,000 for 63 days in a row.
Thus, Bitcoin broke its previous record of 62 days between December 1, 2017 and January 31, 2018. It was during this period that an all-time high above $ 19,900 was set..
Recall that in February, the BeInCrypto editorial staff also said that, in principle, in the entire history of its existence, bitcoin traded above $ 10,000 only for a very short time. So, from 2009 to the time of writing this article in February, BTC spent only 170 days above this mark in total..
No noise and dust
The current strengthening is noteworthy for another reason. This time, compared to previous bull runs, it happens without too much hype. The rise in price looks “businesslike” and calm, and in general, the bitcoin rate fluctuates in the range of $ 10,000 – $ 12,500. According to Coin Metrics, in September, the 180-day volatility of BTC decreased by almost 50%.
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As the popular Twitter user The Crypto Lark commented, over the past three months, price falls under the 10 thousand mark immediately provoked aggressive currency purchases. In his opinion, this may indicate that the long-awaited halving effects are beginning to make themselves felt..
#bitcoin has now closed above $ 10,000 for 63 days in a row, the longest run its history. Any dips under 10k were aggressively bought. Halving effects starting to be felt.
– Lark Davis (@TheCryptoLark) September 28, 2020
Anthony Pompliano, a well-known crypto enthusiast and co-founder of the hedge fund Morgan Creek Digital, reacted with enthusiasm to this news. He posted the following tweet:
“Dear bitcoin haters! Bitcoin has closed above $ 10,000 for 63 record days in a row and at the same time shows only a willingness to continue to grow. As the market showed, your bearish sentiment was not confirmed. You have the option to surrender and join the party. Love, Pomp “.
Moderate your ardor
However, not everyone shares this optimism. So, Matt Kay, managing partner of Blockhead Capital, commented that he is not experiencing any euphoria.
Stock market charges ahead to new record highs. | The Closing Beat.
“There is no build-up of long positions in derivatives. Stablecoin stocks are high. Short positions are still being liquidated. The mood can be described as cautious at best, which corresponds to the macroeconomic background. Enjoy a rare moment, “he summed up.
Meanwhile, Bitcoin is approaching an important resistance area, a breakout of which could confirm a bullish market trend. You can read a detailed analysis of the MTC course here.
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