Today, Bitcoin (BTC) price reached $ 10,000 after finally breaking a long-term downtrend line of $ 9,400. The break above the important psychological level comes when There are only 4 days left for the Bitcoin halving and a strong sustained increase in The purchasing volume shows that retailers are constantly stacking on the digital asset.
Weekly price chart for the crypto market. Source: Coin360
Cointelegraph Markets and CoinMarketCap data show that shortly after 11:34 p.m. UTC, the BTC / USD pair moved to USD 10,000. From this point on, traders will see if the price rejects this level, although private investors’ FOMO could push prices up slightly.
The feat of claiming five numbers happened after an absence of almost four months and since the price on Black Thursday (March 13) had dropped to $ 3,750.Bitcoin’s price has increased by more than 160%.
When the price of bitcoin broke the resistance at $ 9,400 and hit $ 10,000, Bloomberg reported that hedge fund manager Paul Tudor Jones revealed a new assignment to Bitcoin in a customer letter.
According to Jones, Bitcoin’s performance is similar to the role gold played in the 1970s, and he told customers, “The best strategy to maximize profits is to have the fastest horse.”and detailed saying:
If I am forced to make a forecast, I assume that it is Bitcoin.
Bitcoin weekly price chart. Source: Coin360
Altcoins are trying to catch up
When the price of Bitcoin rose 8.92%, a handful of The top 10 alternative currencies followed with lower returns. Ether (ETH) rose 3.53%, while Binance Coin (BNB) and Bitcoin Cash (BCH) rose 1.76% and 2.52%, respectively.
The total cryptocurrency market cap is now $ 269.2 billion with a Bitcoin dominance rate of 67.9%.