Buying volume is pressing bitcoin greater. Meanwhile, DeFi investors continue to look for places to park crypto for steady yield.
- Bitcoin (BTC) is trading approximately $10,730 as of 20:30 UTC (4:30 p.m. EDT). Gaining 0.50 % with the prior 24 hours.
- Bitcoin’s 24 hour range: $10,550-$10,795.
- BTC above its 50-day and 10-day moving averages, a bullish signal for advertise technicians.
Bitcoin’s price managed to hang on to $10,700 territory, rebounding out of a little bit of a dip after the cryptocurrency rallied on Thursday. It was changing hands about $10,730 as of press time Friday
Read more: Up five %: Bitcoin Sees Biggest Single-Day Price Gain for two Months
He cites bitcoin’s difficulty and mining hashrate hitting all-time highs, together with heightened economic uncertainty in the face of rising COVID-19. “$11,000 is the sole screen to a parabolic run towards $12,000 or even higher,”.
Neil Van Huis, head of institutional trading at giving liquidity provider Blockfills, said he is simply happy bitcoin has been in a position to be more than $10,000, that he contends feels is actually a key price point.
“I think we’ve seen that evaluation of $10,000 hold which will keep me a level headed bull,” he said.
The very last time bitcoin dipped below $10,000 was Sept. 9.
“Below $10,000 tends to make me concerned about a pullback to $9,000,” Van Huis added.
The weekend must be relatively relaxed for crypto, based on Jason Lau, chief operating officer for cryptocurrency exchange OKCoin.
He pointed to open interest in the futures market as the source of that assessment. “BTC aggregate open interest is still horizontal despite bitcoin’s overnight price gain – nobody is opening new positions within this price level,” Lau noted.