Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Cryptos

Bitcoin stages come-back, as buyers push price above $10,000

Olumide Adesina by Olumide Adesina
September 5, 2020
in Cryptos
Crypto, Investors flock to US dollar, Gold, Bitcoin, as Global Stocks record heavy sell-offs, Twitter Poll: Bitcoin price expected to reach $100,000 by 2021, cybercriminals, What it will take Bitcoin to hit $100,000?
Share on FacebookShare on TwitterShare on Linkedin

In spite of the recent surge in the value of the U.S dollar, profit-taking by a significant number of retail investors in the flagship crypto staged a come-back, after dipping near $10,000 price level.

Nairametrics observed that a lot of buyers increased their buying pressures on Bitcoin, anytime it stayed around the psychologically important $10,000 level, as it just did some hours ago.

According to data retrieved from Coingecko, Bitcoin’s price was above the $12,000 for the first time since August 19. Then prices dropped momentarily to $11,920 price levels. The price correction continued till Bitcoin fell to as low $10,025 by Friday and has just bounced up, trading around the $10,400 price level.

RelatedPosts

Top 5 cryptocurrencies to watch in June 2022

This is Bitcoin’s worst quarter in 11 years

READ: Leaked email reveal a bank can’t pay GDR dividend due to dollar shortages

At the time this report was drafted, Bitcoin was trading at $10,437.05 with a daily trading volume of $25.9 Billion. BTC price is up 1.8% in the last 24 hours.

The macros helping Bitcoin

In recent times, some emerged markets have beefed up their monetary activities, attempting to prop up a fragile economy disrupted by the raging COVID-19 pandemic.

Such efforts had included EUR750 billion passed by the EU and trillions of dollars pending at the U.S congress, which, in part, is to stimulate global spending, thereby leading to inflationary concerns, as more money flows into an already over-bloated global momentary system.

READ: Buying signs: Ethereum’s total coin supply held off exchanges continues to rise

Some of these funds have found their way into the crypto market, due to investors aggressively looking for high gains, as cheap money inflow hits record highs.

BTC holds a maximum supply of about 21 million digital coins of which there are about 18.5 million in circulation, while over 4 million BTCs have already been lost forever. These show that its definite supply protects the asset against value dilution as seen in inflationary assets like money.

READ: CBN reviews minimum interest rates on savings deposit to 1.25%

Top Crypto researcher, Ryan Watkins, advised traders and investors on looking keenly at bitcoin’s price pattern, as bullish runs in crypto markets don’t just go up in a straight line, due to sell-offs along the way.

Even in bull markets cryptoassets don’t just go up in a straight line.

There will always be dumps along the way. Sometimes massive ones.

h/t @C1aranMurray for the chart pic.twitter.com/tqNF4G6QH4

— Ryan Watkins (@RyanWatkins_) September 4, 2020

Related

Tags: BitcoinBTCBusiness NewsCoingeckocryptoCryptocurrency NewsRyan WatkinsU.S. dollar

Comments 1

  1. Sarah says:
    September 7, 2020 at 12:31 pm

    It’s time to invest and earn in a new way, Crypton Utopia is all you need.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • JP Morgan warns that oil prices could surge to $380 a barrel
    • Buhari says Lekki Deep Sea Port to create job opportunities, facilitate trade
    • Weekly Stock Update: Nigerian Exchange Group record gains, up 0.24% w-o-w

    Follow us on social media:

    Recent News

    reserves, Nigeria Crude Oil Prices, Nigeria wants international oil companies to pay up now , Trade conflict between United States, China continues to affect oil prices, Global oil prices rally to $69.16, as Soleimani killed in US air strike, Crude oil prices continue to rise on the backdrop of US-Iran tension, Coronavirus projected to affect crude oil demand negatively , Worry, as Coronavirus threat pushes oil price below budget benchmark, Coronavirus: FG to review budget as oil price plunges, BOOM: Crude oil price crash below $30 in worst trading day since 1930,Bears ravage Global market, Brent Oil surges 10% trading at $27.29 per barrel, Crude Oil up 10% as Brent crude raises to $27 per barrel, Oil market crisis – possible production shutdown looms, The time crude oil became cheaper than water,, Brent crude surges past $40, analyst recommends investment in crude oil derivatives, Nigeria's Bonny light hit four months high, Nigeria's Bonny light hit four months high

    JP Morgan warns that oil prices could surge to $380 a barrel

    July 2, 2022
    Buhari says Lekki Deep Sea Port to create job opportunities, facilitate trade

    Buhari says Lekki Deep Sea Port to create job opportunities, facilitate trade

    July 2, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com