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These Factors Are Pushing Bitcoin Price Above $ 6000



Bitcoin Price Highest Since November 2018

Bitcoin Price Highest Since November 2018

Bitcoin Price Bitstamp BTC / USD trading just under $ 5900 at press time.

The pair has reached its highest value since November 2018 earlier on Tuesday, coming within just $ 70 of $ 6,000 across major exchanges.

The $ 6K level is critical last year in maintaining support for months. Therefore, it wants to end the bear market.

The trend continues a bullish phase which began in April 1

, with Bitcoin broadly supporting new support above $ 5000 since that time.

Are Shorts Forecasting $ 6k?

Bitfinex and stablecoin tether (USDT) currently at the heart of $ 850 million fraud allegations.

Brought by the New York Attorney General, both the defendants and a supreme court judge appear unconvinced by the claims, which is only succeeded in several times before Bitcoin's winning streak continued.

On Monday meanwhile news China was limiting foreign currency withdrawals combined with Bitcoin shorts exhibiting unusual behavior, rising in time with Bitcoin price 0 0 in a move which began drawing attention among analysts on social media.

Bitcoin price.

Longer term, other theories now as the ideal time to continue accumulating Bitcoin despite the Bitcoin price gains from $ 3100 in December.

Highlighting current conditions in bitcoin history, analyst Plan B that the cryptocurrency's next leg-up should occur in 2020, coinciding with the block reward halving.

Similar sentiment had already come out with industry, with the May 2020 halving tipped to begin impacting markets as soon as June this year.

Bitcoin Outshines Alts

On oldcoin markets, Bitcoin price gained a conspicuous knock-on effect for investors.

Ethereum, which had long traded sideways, became Tuesday's top performer out of the top twenty cryptocurrencies by market cap, gaining 7.8 percent to reach $ 177.

Outside news, such as comments from the Commodity Futures Trading Commission (CFTC) suggesting it would be accepting an ETH-based exchange-traded fund (ETF), further buoyed investors.

Elsewhere, Tezos matched ETH performance, while binance coin failed to break out of its volatile trading corridor around $ 22.

Bitfinex from its Bitcoin listings after it traded around $ 300 higher than elsewhere over a week-long period.

Coinmarketcap, which provides averaged trading data from exchanges Bitcoin price is well over $ 6200 on Bitfinex.

What do you think about the Bitcoin price in the near term?


Images via Shutterstock, Tradingview.com


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