Bitcoin has broken the $9,400 resistance with a recent rally that has seen the cryptocurrency trade at $9,1860 on Tuesday, February 4. But as the time of filing this report, BTC trades above $9,700 making gains that has made the prospects of another ATH a reality.
There have been speculations that 2020 would see high values for Bitcoin and the best Indicator so far may be its January performance which has been adjudged the best in 7 years. The recent gain of the first week in February would accentuate the position of bulls that are confident that the trend would be sustained. This is despite the fact that there are no specific ways of assuring that.
Today, January 7, the coin’s rally has been accompanied with high volumes across exchanges as the market is closely watched in anticipation that the cryptocurrency would soon breach the $10,000 mark.
Now is the time to unfollow people who predicted btc to 5000 in the last couple months, and btc to 1000 a year ago.— CZ Binance 🔶🔶🔶 (@cz_binance) January 28, 2020
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In the past months, especially during the bear market, there have been debates on the direction the coin would take in 2020 with some bears predicting that Bitcoin would fall as low as $3000 before recovering.
What is obvious is that no one can accurately predict what happens in the coin market. There is a general consensus that the long-term prospects are good, even though no one knows exactly when Bitcoin breaks its all-time-high value of $19,600.