This shows that Bitcoin has developed new strongholds at the $8,000 range, which is good news considering its position of $6,600 less than a week ago.
Broker Jim Iuorio comments that Bitcoin will undoubtedly go higher from here, striking $8,200 in the coming days and ultimately targeting $9,400 not long after.
Blockchain and the technology behind Bitcoin continues to enjoy mass adoption, which may be paving the way for current price stability.
A new report stemming from a Quebec-based government office suggests that no credible link exists between Bitcoin and money laundering, as most criminals are turned off by Bitcoin's "Newfound" lack of anonymity.
Examining Bitcoin's current trends would suggest that the next goal could be an even $10,000 granted it's able to surpass the 50-day SMA. Major resistance is expected at approximately $12,700, which the currency isn't expected to reach just yet.
Bitcoin's behavior appears to be rubbing off on its crypto-cousins, with Ethereum spiking to $515 at press time after yesterday's $507 mark.
As the second-largest cryptocurrency, Ethereum is widely connected to Bitcoin, which means if Bitcoin goes down, Ethereum will follow suit.
Granted Bitcoin can keep up its momentum, we'll continue to witness ongoing spikes for Ethereum.
The "Spin-off" currency has jumped by over $100 in the last 24 hours, leaping from yesterday's $765 to a solid $880. Previous analyses had suggested Bitcoin Cash would experience a solid price hike in the coming days granted it was able to break $778, which has noticeably occurred.
Litecoin is presently trading at $138, a one-dollar hike since yesterday's $137 position.
Crypto Price Watch: Bitcoin, Ethereum, Bitcoin Cash, Ripple and Litecoin Hold Their Ground
gepubliceerd op Apr 18, 2018
by Cryptoslate | gepubliceerd op Coinage
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