Bitcoin rises to its highest levels ever, and she rejected $ 110,000 as fluctuating nails
Bitcoin price rose to the highest level ever on Wednesday, reaching 109,874 dollars, before decreasing sharply to trading at $ 106, 850 at the time of the press. Belweether in the Crypto Market had previously fought to stick to a brand of $ 105,000, but the increasing confidence between investors in the wake of the American trade tariff led to a continuous decrease in the aversion of risks. The next main human is $ 110,000, which is the level that has been rejected before.
The currency has gained 4.3 % in the past seven days and increased by 16 % from year to date. Certainly, a friendly organizational environment in the United States certainly helped to pay the BTC price, which was approved by the Senate about a preliminary vote in order to direct and create a national innovation of the draft law of the United States of America (genius). US President Donald Trump is at the forefront of supporting the draft law, and the initial vote 66-32 means that he will definitely become a law once he falls on his office for approval.
Institutional investment in Bitcoin is steadily rising, as the investment funds circulated in Bitcoin Spot have recorded positive positive flows in the last five consecutive sessions. In addition, Bitcoin Treasuries stated that 102 public trading companies currently retain BTC, as the BTC value increased to 85.3 billion dollars. These institutions have 796,004 BTC, representing 3.79 % of the total BTC supplies. Meanwhile, the trading volume increased 24 hours in Bitcoin by 34 % to the time of the press, indicating the inaugural of the investor’s appetite for the coin. Bitcoin is likely to pay up in the short term.
Bitcoin prediction
The momentum on the price of bitcoin calls for more upward trend above 106,063. The currency is likely to meet the first barrier at 108,803 dollars. However, the expanded control by buyers will break this level and may test $ 110,000.
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Instead, the momentum will turn to the negative side if the price decreases to less than 106,063 dollars. This is likely to create the first support at 104,645 dollars. The collapse without this level will nullify the bullish narration, and it can remove the path for a more severe decline in a 102,990 dollar test.
