By Hassan Mehmood (Saudi Arabia)
It is believed that the price value of the top-ranked digital asset Bitcoin (BTC) rises before and after the halving event. It is now only a matter of time before the next bitcoin halving occurs as only ten days are left and we have recently seen Bitcoin recording a notable surge in its price value. Bitcoin price is already revolving around the $9k mark but can it cross the psychological level of $10,000 before halving?
Bitcoin has recovered from the Mid-March price crash
The world’s leading digital currency had to go through a massive price crash in Mid-March when the price of coin went below to the $4K zone. But now the leading coin has recovered a lot from that massive loss. Recently, Bitcoin price crossed $8,000 mark on April 29, 2020, and is currently trading above the $8,900 figure at the press time.
During the last few days, the Bitcoin price has secured positive gains. The upcoming Bitcoin halving is considered to be an important factor that has driven Bitcoin price upsurge. Bitcoin has followed the track that it followed in the previous two halving events and has surged before halving.
Can Bitcoin reach $10K before halving?
It seems that the top crypto asset has gained momentum before the start of the halving event. Bitcoin price climbed all the way up to $9,400 on Thursday which shows that Bitcoin can explode above the psychological level of $10,000 at any time.
Investors want to see Bitcoin rising above this psychological level but can bitcoin price reach there that is the question. Crypto analysts and experts believe that there is likely a chance that the price value of Bitcoin might reach $10k in the coming days. But there is a huge resistance of $9,500 standing in the way between Bitcoin and the $10,000 level which needs to be broken. If Bitcoin succeeds in breaking this strong resistance then it will retest $10,000 figure before the halving event.
Crypto analysts and experts also think that the leading digital asset might likely start a bullish rally after this third-ever bitcoin halving event as it is expected to do so.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.