The cryptocurrency market is attempting to gain its lost strength again after plummeting for some days back. Today, Bitcoin was earlier trading around $7600 before seeing a sudden uptick which pushed the digital asset towards $8000.
At the time of writing, Bitcoin is trading around $7,981.34 with 1.70 percent price upsurge in the last 24 hours. The data revealed on CoinMarketCap shows a lesser value of Bitcoin compared to some exchanges as the price of BTC presented on cryptocurrency exchanges varies.
As Bitcoin price attempts resurging towards the 8000 against USD, there are high expectations the digital currency may move higher in the market and go beyond the $9000 level.
While this may not be backed by any proof, different observations by chartist indicates BTC may be heading towards its all-time high any time soon.
However, Bitcoin’s 52 weeks all-time high and low stay at $9,008.31 USD and $3,891.90 USD respectively. Interestingly, on Binance, Bitcoin has moved above 8000 USDT as it currently marks 8,005.03 USDT.
Meanwhile, earlier today, Today’s Gazette published that a trader likened the present situation to what is obtained in 2015, saying there is high potential Bitcoin drops below $4000 with around 30 percent price fall.
Whale Moves 5836 BTC
Towards the time that Bitcoin and the whole cryptocurrency market is trying to get revitalized, an unknown whale (19FDufECVMvdvaX91susCUwsM31t7gqta5) moved 5836 BTC (approximately $47.1 million) to two different addresses.
The first address (17JXSEJr2eaVQRsu9fXQgekxB5gb6dsngW) received 2400 BTC while the second (1LgeMsAnkP4Jp5ye4d5CmmCTy5rABX8ZRM) received 3,436 BTC.
The source and destination of the fund are still not clear to those who monitored the transactions. In the same line, the movement of the BTC may not be the reasons Bitcoin surged in the market.
As the price of Bitcoin moves up in the market, other digital currencies like Ripple’s XRP, Ethereum and Litecoin among others are trying to catch up with the generalissimo to fight the bears to death.
Tom Lee Says Bitcoin Can Reach $40,000
Cryptocurrency bull Tom Lee is not backing out of his huge price prediction for Bitcoin. In an interview with Binance CFO, Wei Zhou, the crypto expert and founder of Fundstrat Global Advisors stated that Bitcoin could reach $40,000 five months after touching $10,000.
He said the digital asset will first move from $10000 to $20000 before surging to $40000.
Olayode has made meaningful contributions to Huffington Post, Thrive Global, Oracle Times, The Independent Republic, Forbes, Washinghton Post and a host of other news magazine. He's a blockchain enthusiast covering news on notable cryptocurrencies and seminars from far and within.
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