Home / Analysis / Bitcoin Achieves the Mark of $12k, the value Can further Accelerate

Bitcoin Achieves the Mark of $12k, the value Can further Accelerate

The value is Bitcoin is getting back on track again these days after the bearish correction of the previous month. The value of Bitcoin is showing strong bullish momentum in the market and today a few hours ago the value of Bitcoin reach around the value of $12,000. Some of the experts and crypto investors are thinking that this sudden increase in the value of Bitcoin is due to the economic feud between the United States and China.

Still, some of the analysts and analyst Josh Rager is expecting that currency can again experience correction and value might fell back. Today, the value of the Bitcoin was trading at the value of the $12,273.82 at 15:44 UTC, the market capitalization of the currency is $219,220,416,159 and the 24-hour volume of the currency is $22,993,616,607.

But, Rager was right and the value of currency drop again and now at the time of writing the currency is trading at the value of $11,639.66 at 18:30 UTC, the market capitalization of the Bitcoin is $207,896,907,378 and the 24-hour volume of the currency is $23,564,681,811. Rager stated,

“I do believe BTC needs to have slight pullback sometime.”

Some of the experts or analysts were still thinking that the bulls have taken over the Bitcoin and the value of Bitcoin will achieve an increase of $13,880. But, Rager also explains this in his tweet,

“Bitcoin is clear skies on the weekly and monthly chart. Not much stands in the way of previous $13,880.”

Still, when the value of the currency was around $12k the bitcoin experienced the high of value around 4-5% and the bitcoin dominance is continuously rose around the level of 68.5%. The last time the dominance of bitcoin was high in 2017.

On the other hand, the global stock market experienced a setback and Dow Jones suffered the loss of 1,000 points in Monday’s session of trading. This happens following China’s action at Donald Trump’s threats regarding trade war with China. China itself allows it Yuan currency to decrease around the important $7 level and this followed an enormous capital flow out of the currency of China. The experts think that some of the Chinese currency flowed into the cryptocurrency Bitcoin is the previous 24 hours.

The CEO of Circle, Jeremy Allaire encourages the virtual currency bitcoin for being the global macro uncertainty. He stated,

“Humanity has now created a non-sovereign, highly secure mechanism to store [a] value that can exist anywhere that the internet exists. It’s uncensorable, it’s unseizable.”

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About Arushi Dubey

Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

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