{"id":390363,"date":"2019-07-18T23:00:08","date_gmt":"2019-07-18T23:00:08","guid":{"rendered":"https:\/\/uniquehot.com\/?p=390363"},"modified":"2024-06-11T08:58:36","modified_gmt":"2024-06-11T08:58:36","slug":"bitcoin-suddenly-surges-past-10000-as-bear-trend-dies-factors-trends","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-suddenly-surges-past-10000-as-bear-trend-dies-factors-trends\/","title":{"rendered":"Bitcoin Suddenly Surges Past $10,000 as Bear Trend Dies; Factors & Trends"},"content":{"rendered":"

The crypto markets were taken aback earlier today when Bitcoin\u2019s bulls stepped up and led BTC to surge over $1,000 in a mere matter of minutes, which marked a significant change of tides for the cryptocurrency \u2013 which has been facing consistent selling pressure over the past several days and weeks.<\/p>\n

Now, analysts are noting that this price surge could mark the end of the bear trend that has been consuming the markets as of late, which may mean that bulls are back in control and will help propel Bitcoin higher in the near-term.<\/p>\n

Bitcoin Surges Past $10,000 as Buyers Step Up<\/strong><\/h2>\n
At the time of writing, Bitcoin<\/a> is trading up over 7% at its current price<\/a> of $10,415, which is up significantly from its recent lows of $9,300.<\/p>\n
The recent surge came about after a long period of downwards pressure that sent Bitcoin<\/a> reeling down from its year-to-date highs of $13,800, which is the price at which the recent bout of selling began.<\/p>\n
Importantly, BTC has been able to find strong buying pressure below $10,000 on multiple occasions over the past month, which likely signals that this is a strong region of support that will likely hold strong in the months ahead.<\/p>\n
Earlier this week after Bitcoin plummeted to below $10,000, many analysts were noting that BTC was firmly in the throes of a bear trend that was likely to send its price significantly lower, but the recent price surge seems to invalidate this theory, and may signal that the bull run is back on.<\/p>\n
Alex Kr\u00fcger, a popular crypto analyst on Twitter, spoke about the latest price surge in a recent tweet, explaining that this price movement marks a trend change.<\/p>\n
\u201cThat’s how trends die. Bears were in control despite yesterday’s relief rally. Until now. all those who sold yesterday’s pullback got run over,\u201d he explained.<\/p><\/blockquote>\n
\n
That's how trends die. Bears were in control despite yesterday's relief rally. Until now. all those who sold yesterday's pullback got run over.<\/p>\n
— Alex Kr\u00fcger (@krugermacro) July 18, 2019<\/a><\/p><\/blockquote>\n