Bitcoin’s $9,000 Price Stays Steady as Sentiment Stays Positive

Bitcoin’s $9,000 Price Stays Steady as Sentiment Stays Positive 1

As global equity markets continue to get pummeled, bitcoin’s return to the $9,000 level may have been driven by some of the same forces causing a rally in bonds – a desire for respite from a coronavirus-plagued markets. 

After sharp gains in price Thursday, bitcoin (BTC) has been trading steadily in a range between $9,000 and $9,200. For the past 24 hours, bitcoin’s price change has been minimal, down half a percent as of 18:00 UTC (1 p.m. ET). 

Traders see bitcoin’s jump back into the $9,000 range as another sign bitcoin is trending upward in 2020 while traditional markets stumble. Year to date, bitcoin is up over 26 percent while the S&P 500 stock index is down 9 percent. Cryptocurrency sentiment appears bullish as prices remain above significant moving averages.

Although traders seem to be open to viewing the cryptocurrency markets as a safe haven from stock market turmoil, more volatility is possible ahead of May’s halving, an event that will slash in half the reward bitcoin miners obtain. 

“It’s a relief rally. In my opinion, we have a likelihood of sweeping another low before the post-halvening rally,” said Mostafa Al-Mashita of Canadian crypto brokerage firm Secure Digital Markets. 

“I believe gold and BTC are safe havens,” said Henrik Kugelberg, a Sweden-based crypto OTC trader. “As coronavirus has just started to spread, I believe a strong market will last well until the halving will have effect. To me it seems plausible that we can hit an all-time high this year, perhaps within six months.” 

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Bitcoin’s $9,000 Price Stays Steady as Sentiment Stays Positive 2
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bitcoin
Bitcoin (BTC) $ 43,234.00
ethereum
Ethereum (ETH) $ 3,056.77
cardano
Cardano (ADA) $ 2.19
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 345.26
xrp
XRP (XRP) $ 0.944703
solana
Solana (SOL) $ 145.18
usd-coin
USD Coin (USDC) $ 1.00
polkadot
Polkadot (DOT) $ 28.63
dogecoin
Dogecoin (DOGE) $ 0.204289
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 43,234.00
ethereumEthereum (ETH)
$ 3,056.77
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 497.89
litecoinLitecoin (LTC)
$ 150.08
bitcoinBitcoin (BTC)
36.888,76
ethereumEthereum (ETH)
2.608,14
tetherTether (USDT)
0,853235
bitcoin-cashBitcoin Cash (BCH)
424,82
litecoinLitecoin (LTC)
128,05
bitcoinBitcoin (BTC)
31,592.25
ethereumEthereum (ETH)
2,233.66
tetherTether (USDT)
0.730727
bitcoin-cashBitcoin Cash (BCH)
363.82
litecoinLitecoin (LTC)
109.67

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin43,405 0.55 % 0.09 % 8.37 %
Ethereum3,053.1 0.20 % 0.25 % 8.48 %
Cardano2.200 0.26 % 3.53 % 4.17 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Binance Coin346.50 0.55 % 1.32 % 15.46 %
XRP0.9472 0.51 % 0.15 % 9.71 %
Solana144.83 0.14 % 3.87 % 5.54 %
USD Coin1.000 0.26 % 0.33 % 0.02 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Dogecoin0.2039 0.33 % 1.77 % 13.05 %

bitcoin
Bitcoin (BTC) $ 43,234.00
ethereum
Ethereum (ETH) $ 3,056.77
cardano
Cardano (ADA) $ 2.19
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 345.26
xrp
XRP (XRP) $ 0.944703
solana
Solana (SOL) $ 145.18
usd-coin
USD Coin (USDC) $ 1.00
polkadot
Polkadot (DOT) $ 28.63
dogecoin
Dogecoin (DOGE) $ 0.204289