Bitcoin (BTC) Price Attempts to Find Support After Testing $10,000 Level
Cryptovest
Published Feb 10, 2020 08:56AM ET
Updated May 30, 2020 12:02PM ET
Bitcoin (BTC) Price Attempts to Find Support After Testing $10,000 Level
2020 has proven to be positive for Bitcoin so far, with the leading digital currency rising all the way from under $6,900 to over $10,100 in just over a month. While there are numerous fundamental developments that can be credited for the surge, Bitcoin needs to find strong price support now that it has tested $10,000 and fallen below (currently trading around $9,800).
h2 Why Did BTC Price Surge in 2020?/h2It started with the US-Iran tensions in early January, where many analysts observed that Bitcoin acted similar to gold - like a safe haven asset, in times of turmoil. Following that, we had the Coronavirus outbreak, which further put pressure on global markets and apparently pushed investors towards alternative investments, like Bitcoin.
Finally, we’ve h...
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