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Bitcoin price increases 10% to $ 7,700

April 23, 2020

The price of Bitcoin ( BTC ) rose above key resistance levels on April 23 as the bulls took control and pushed the markets 10% higher.

Resumen diario del mercado de criptomonedas. Fuente: Coin360

Daily summary of the cryptocurrency market. Source: Coin360

BTC price rises USD 700 in hours

Bitcoin price increases 10% to $ 7,700Bitcoin price increases 10% to $ 7,700

Data from Coin360 and Cointelegraph Markets showed that the BTC / USD pair was gaining $ 700 during trading on Thursday, hitting $ 7,760 before retreating lower.

Volatility was high at press time, Bitcoin's price hovered around $ 7,520.

Gráfico de precios de Bitcoin para 1 día. Fuente: Coin360

Bitcoin price chart for 1 day. Source: Coin360

The measure surprised many analysts and traders. Previously, the annual starting range for the Bitcoin price of $ 7,200 was the recapture level to improve bullish prospects.

Nonetheless, Bitcoin overturned its 50-day moving average resistance to gain support earlier in the week , hinting that the fortress was returning to the cryptocurrency.

The focus remains on the block reward that will be cut in half in May, something that could seriously affect price performance as the supply of new Bitcoins will drop by 50%.

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