Etherium News

Bitcoin Inches Higher Amid Bullish Calls From Analyst

© Reuters.
© Reuters. – Bitcoin remained in correction territory despite paring most of its losses Wednesday, but this has done little to knock bullish calls from analysts.

rose 2.18% to $7,798 after hitting a session low of $7,594. The popular crypto entered into a market correction following a 14% plunge from its peak of $9,100 last week.

Still, some crypto analysts are wary of calling time on the popular crypto’s impressive rally, which saw it rack up a fourth-straight monthly gain last week.

“I believe bitcoin has the potential to hit $25,000 by the end of 2019 or early 2020,” prominent bitcoin analyst Oliver Isaacs told The Independent.

“There are multiple drivers behind the recent resurgence. There are geopolitical, technological and regulatory drivers. The net effect of the trade war between the U.S. and China has led to the sudden interest in bitcoin as a hedge on investments.”

In a sign that the recent slump in Bitcoin may be petering out, its market cap, often used to gauge demand, steadied at $139 billion, unchanged from a day earlier.

Other cryptos traded mixed; fell 1.63% to $0.39970, fell just 0.35% to $246.68 and added 2.43% to $102.99.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

View original post

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button