{"id":391821,"date":"2019-07-31T14:41:29","date_gmt":"2019-07-31T14:41:29","guid":{"rendered":"https:\/\/uniquehot.com\/?p=391821"},"modified":"2024-06-11T13:46:09","modified_gmt":"2024-06-11T13:46:09","slug":"bitcoin-reclaims-10000-in-sudden-surge-can-bulls-keep-the-pace","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-reclaims-10000-in-sudden-surge-can-bulls-keep-the-pace\/","title":{"rendered":"Bitcoin Reclaims $10,000 in Sudden Surge: Can Bulls Keep the Pace?"},"content":{"rendered":"
Well then. Bitcoin (BTC) has just reclaimed $10,000 in a sudden surge to the upside. As of the time of writing, the cryptocurrency sits just shy of $10,000, finding itself up 4% in the past 24 hours.<\/p>\n
Interestingly, altcoins have underperformed the market leader, accentuating the trend of BTC outperforming its ilk during sudden moves higher.<\/p>\n
After over a week of a price action lull, BTC managed to break out on Tuesday. After failing to break past $9,700 multiple times, Bitcoin ticked higher on Tuesday morning, moving past a key resistance level at $9,800. Then, at around 1:00 pm (UTC), bulls managed to take control of the market, pushing the price of BTC quickly to $10,000.<\/p>\n
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This move caught many traders with their pants down, as there has been a multitude of calls for lower lows pushed over recent days. Also, there were no positive news stories about the cryptocurrency industry released during this time, making this Bitcoin surge that much more confusing.<\/p>\n
While it isn’t clear if there is any correlation here, this writer noticed that the publishing of an article from CoinDes<\/a>k about the first “physical” Bitcoin futures lined up with the move from $9,850 to $10,000. Notably, the article was published at 1:00 pm (UTC), which, as aforementioned, is when the aforementioned movement began.<\/p>\n What are analysts saying right now?<\/p>\n Interestingly, it’s a bit of a mixed bag, despite the fact that Bitcoin reclaiming the auspicious $10,000 price point is quite notable.<\/p>\nWhat Are Analysts Saying?\u00a0<\/strong><\/h2>\n