Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
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 AdesinabyOlumide Adesina
3 years ago
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.

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

Press one
hfm
Mega Millions
fidelity banner
SME
HFM
Patricia





NM newsletters

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

Recent News

  • FBN Holdings explains why 2022 results was not released on March 31st
  • Buhari approves July 28 as new date for conclusion of deep offshore oil block mini-bid round activities
  • Fears of a global recession could mean lower oil revenues for Nigeria

Follow us on social media:

Recent News

fbn-holdings-profit-jumps-by-123-to-n91-billion-in-q3-2022

FBN Holdings explains why 2022 results was not released on March 31st

April 1, 2023
Buhari approves July 28 as new date for conclusion of deep offshore oil block mini-bid round activities

Buhari approves July 28 as new date for conclusion of deep offshore oil block mini-bid round activities

April 1, 2023
  • Download Nairametrics iOS App
  • Download Nairametrics Android App
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections

© 2023 Nairametrics

error: Alert: Content selection is disabled!!