The crypto community is very much positive for the Bitcoin (BTC) prices and they believe it could be hit 15000$ soon in this week as its first day of trading and bitcoin already trading at 11500$. the market structure of Bitcoin would remain compelling if it holds $11,400. Stability above the $11,400 level would show that it has turned into a support level.
Why bitcoin running so high?
There is a big tension of war going between the USA and China at this point. so investors are sending their money in safe assets like gold and silvers. so they also investing in bitcoins as a safe asset .
Furthermore, CME Bitcoin futures saw its most active session for the year over the past week, with open interest climbing to record highs, hinting at the increased institutional appetite for BTC.
For most crypto traders, BTC breaking past $11,500 was a bullish move more the cryptocurrency as it laid the foundation for further upside moves.
At the time of writing, Bitcoin (BTC) is trading at $11,666 and is up 27.4% on a 7-day timeline.
JULY 31, 2020
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