Beginning a rally at the start of 2020, Crypto market that includes Bitcoin (BTC) and the other crypto currencies is continuing to reach new heights, showing little signs of slowing down. On Sunday February 9th, CNBC crypto trader and Twitter personality BigCheds told Cointelegraph in a message said that the fact that has stuck out him is though there are plenty of altcoins that are still running even with the strength USD BTC is displaying right now, the crypto market is hot right now
Halfway through December 2019, Bitcoin’s price dropped to near USD 6,750. In June 2019, the Bitcoin price topped which was near USD 14,000 and since then the downtrend began which ended in December. In the latter half of 2019, many other altcoins joined Bitcoin’s downtrend. Up to now, December 2019 has been proved to be the bear-trend bottom as Bitcoin continues its journey higher, taking altcoins with it.
On Friday February 7th Crypto trader and social media maven CryptoWendyO told Cointelegraph in an email that Market sentiment has done a complete 180 since hitting the low of USD 6900 on January 3rd as thay were able to build solid support, they have seen consistent moves upward. CryptoWendyO noted Bitcoin powered past USD 9,000, a previously formidable opponent, on January 26th, holding above the level nicely. The asset then rallied past resistance at USD 9,500 on February 5th, converting the level to support.
Since February 7th, Bitcoin has rallied past USD 10,300, which CryptoWendyO suspected as an outcome, shown in her comments. She said that due to a change in market sentiment another upward move would put them at USD 10,400 and then USD 11,200. She further added that ultimately, the bulls need a break and flip of support at USD 14K to as that was the high back on June 26th. In less positive new, however, wallets allegedly associated with the PlusToken scam recently transferred USD 123 million in BTC, Cointelegraph reported. Some authorities suspect previous PlusToken liquidations may have caused certain BTC price falls in 2019.