Bitcoin has breached the $8,000 level, and it touched upon $8,084. The price of the BTC has been pumping over the past few weeks, thereby migrating the coin from a slump. The currency is heading towards a bull run. The coin has been rallying from $7,252, and it peaked up until $8,155.
The next resistance level has been marked at $8,300 after which $9,000 is the apparent target. With the demand for Bitcoin increasing in the market, the search rating for the token has increased in the search engines. The searches for Bitcoin has escalated to rocket highs in 13-months.
If the searches should climb higher this week, it might be probably related to the episode in “60 minutes” on CNN. This is about the time that the cryptocurrency market is getting the attention of mainstream media. This is indeed a moment for the budding crypto ecosystem.
There was a sell-off on Friday. Simon Peters, the analyst, stated, “Bitcoin’s blip appears to have been caused by a significant sell order placed on the Bitstamp exchange early [Friday] morning, which triggered selling across other exchanges. Whether this order was a deliberate dump or a fat finger error remains to be seen,”
Ranging from retail adoption through gaining legendary investor support, Bitcoin has been enjoying a range of positive news this week.
The hash rate of Bitcoin cash has come very close to being controlled by one mining pool. BTC.top has been controlling more than 51% of the hash rate. This provides them with the power to double spend any of the Bitcoin Cash. They will be able to halt transactions successfully and launch a 51% attack on the cryptocurrency. This kind of control has happened several times before.
One of the tweets in this regard read: “This release adds deep reorg protection to ensure that transactions are immutable after ten confirmations. This safeguard helps users, businesses, and exchanges stay secure and free from disruption.”
Another user stated, “Someone is attacking BCH, which I would speculate to be Calvin and his dipshit lapdog. Some mystery miner pumped up the “unknown” side up by 10-15% which backed off right after the fork. Then the zero-day bug exploits on fork day that coincided with a massive short position.“
Technical data, clearly indicate that Bitcoin might be heading to higher prices. Sometime in 2020, Bitcoin is expected to touch $22,600 sometime in 2020.