NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin Dips on Profit-taking but Fundamentals Show Its Parabolic Rally is Not Finished

Yashu Gola
Yashu Gola
1 year ago
2 mins read
bitcoin, cryptocurrency

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin slipped huge a day after enjoying a strong price rally above its key resistance level of $10,000.

The benchmark cryptocurrency was trading at $9,736 early Monday, down 4.35 percent from its Sunday top, according to US exchange Coinbase. Nevertheless, it was still up by more than 36 percent at its intraday low, maintaining the position of one of the best-performing assets of 2020 so far.

bitcoin, cryptocurrency
Bitcoin in a stable uptrend in 2020 | Source: TradingView.com, Coinbase

Similar rival cryptocurrency, like Ethereum and XRP, was also down by circa 4 percent on a 24-hour adjusted timeframe, showing traders were selling the tokens that rallied on Sunday at intraday tops, thereby making a small profit. That helped bitcoin and co. sustaining its bullish bias.

“Technically the structure’s bias is bullish as long as price doesn’t lose $9,150,” said Teddy Cleps, a market analyst at Crypto Freak Network. “Price has a decent margin to retrace and mark another higher high, and thus continue its growth.”

The full-time trader added that a price correction upon bitcoin hitting the $10,000 level is “very healthy for its bullish continuation.”

Recognition

Traders pointed to a string of catalysts that sent bitcoin above the $10,000 milestone, including Coronavirus. The epidemic, which has killed more than 900 people in China, earlier led global stocks to fall in tandem. The move downhill led investors to the safety of haven assets, including Gold – and even the US dollar.

CNN Business last week ran a special story about bitcoin behaving like a safe-haven against the economic uncertainties led by Coronavirus fears. The media mogul compared the cryptocurrency with Gold, a traditional hedging asset, stating that both were rising in tandem against the gloomy macroeconomic outlook.

Other global media outlets, including Business Insider, the New York Times, Independent, and Bloomberg, also ran similar coverages about bitcoin.

Bitcoin Holders on a Rise

The cryptocurrency, meanwhile, continued to attract traders ahead of its halving this year. In May 2020, a pre-programmed algorithm would deduct bitcoin’s supply rate from 1,800 BTC per day to 900 BTC per day. People think it makes bitcoin scarcer than any other global asset, which is why its price could go up in the long run.

The euphoria surrounding the halving event has already prompted traders to become holders, leading to a drop in selling orders. According to data analytics portal BitInfoCharts, over 11 million Bitcoins haven’t moved wallets since late 2018.

11,580,00 bitcoin have not moved in over a year.

Even with a 85% increase in price during that time, those millions of bitcoin were not sold or traded.

Hodlers of last resort are insane. pic.twitter.com/KTpeDrLlOO

— Rhythm (@Rhythmtrader) December 1, 2019

A survey conducted by San Francisco startup Bitwise Asset Management and research firm ETF Trends noted earlier this year that portfolio managers would increase their exposure to bitcoin twofold in 2020. The study took responses from 400 financial advisers in December 2019.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Ethereum Shines Bright As Bank Of America Begins Digital Asset Tracking

A new weekly “On Chain” report from Bank of America is shining a spotlight on Ethereum. According to the report,...

Christian Encila 3 hours ago
Snorter

Kateri Telegram bot bi lahko bil naslednja kriptovaluta s 100x donosom?

Ker je priljubljenost Telegram botov eksplodirala, se Snorter telegram bot pojavlja kot resen tekmec Banana Gun z nizkimi pristojbinami, hitrostjo...

tanjapotocnik 3 hours ago
meme coins

Meme coins καταγράφουν νέα κέρδη καθώς το Bitcoin ξεπερνά τα 122.000 δολάρια

Η αγορά των meme coins φαίνεται να ακολουθεί τη γενικότερη ανοδική πορεία του Bitcoin, το οποίο ξεπέρασε τα 122.000 δολάρια...

Ιωάννης Ριζόπουλος 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Cardano

A Breakout To Remember: Cardano Price Mirrors Market Conditions That Led To $3.10 ATH

Scott Matherson 1 hour ago
Bitcoin Bears Strike Back After ATH: Long/Short Ratio Flips Negative

Bitcoin Bears Strike Back After ATH: Long/Short Ratio Flips Negative

Sebastian Villafuerte 2 hours ago

Price Isn’t the Only Thing Rising – FUNToken’s Roadmap Execution Is Gaining Speed Too

News BTC 2 hours ago

Premium Sponsors

Press Releases

  • ミームコインの価格急騰が続く中、注目の仮想通貨プレセールが50万ドルを突破し、次の100倍コインになる可能性がある。

    ...

    4 hours ago
  • 仮想通貨おすすめ|ビットコイン強気派の一休み中に買うべき銘柄

    ...

    4 hours ago
  • 2025年注目の新しい仮想通貨|Solana発 次世代ミームコインが投資家の期待を集める

    2025年注目の新しい仮想通貨|Solana発...

    4 hours ago
  • 2025年7月第2週にクジラが購入した注目のアルトコイン

    ...

    5 hours ago
  • 仮想通貨おすすめ|1ドル以下の3銘柄が2027年までに200ドルの投資を200万円に変える可能性

    ...

    5 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.