Bullish Sentiment: Bitcoin Price Bounces Back to $10KKehinde LAWAL
Bitcoin (BTC) price regained $10,000 Aug. 15 restoring investor confidence just hours after touching a higher low of $9,500 compared to the $9,3000 dip in late July.
Bitcoin price embraces five figures
Data from Coin360 shows BTC/USD put in a sudden rally on Thursday, gaining more than 5% in hours and subsequently holding onto support above $10,000.
Bitcoin 24-hour price chart. Source: Coin360
The latest break to the upside reinforced an already positive mood among traders and analysts, who earlier recommended not treating Bitcoin’s dip to four figures as proof of a bear market return.
As Cointelegraph reported, it was Peter Brandt who led calls for calm, arguing Bitcoin’s 2019 bull run still clearly outperformed its efforts between 2015 and 2017.
Other well-known faces, such as Kim Dotcom, joined in, the tech mogul calling on Twitter followers to exit stocks and pile into both Bitcoin and gold.
“Trust me,” he wrote on Wednesday, even as BTC/USD continued on its 15% two-day fall.
This article first appeared on 👉 CoinTelegraph.com