Bitcoin price above $10,000 again – but the gains may be short-lived
Jul 25, 2019
During the night to Thursday (CEST), the bitcoin price gained new momentum and climbed over $10,000 for the first time in several days.
The price soared by over 6.5 percent in a short time – from about $9,550 to $10,187, according to numbers from Bitstamp.
This is the third time in a month that the bitcoin price has bounced back over $10,000.
The gains may be short-lived
The question now is whether the bitcoin price is on the rise or whether it will continue down. According to a technical analysis from Coindesk, the latest gains may be short-lived.
The reason is said to be that the trading volume is low and that the bitcoin price is stuck at key resistance levels.
The price must rise above $11,120 in order to revive the positive sentiment in the markets. But then the price has to break through the resistance level of $10,200 with the help of high trading volumes, Coindesk writes.