Bitcoin has been trading close to $10,000, a key, psychological level the cryptocurrency has not reached since February.
The world’s most valuable digital currency by market value climbed to as much as $9,958.73 at roughly 3:30 EDT, CoinDesk figures show.
At this point, it was less than 1% away from $10,000.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
The $10,000 price provides “major psychological resistance,” emphasized Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital.
Kiana Danial, CEO of Invest Diva, agreed, providing some technical clarification:
“The next resistance is at the $10K zone which also falls on the 61% Fibonacci retracement level that tracks the downtrend from the highs of June 15, 2019 to the lows of March 2020.”