The price of Bitcoin exceeded $ 4,620 and could reach $ 6,000
For the first time since September 8, 2017, the Bitcoin price exceeded $ 4,620. It has fully recovered from the Chinese government's ban on the work of local cryptocurrency exchanges.
Over the past 24 hours, Bitcoin price has remained relatively stable around $ 4,600, having previously reached $ 4,580. Daily trading volumes in major regions, including Japan, the US and South Korea, as well as short-term impulse indicators, including the moving average convergence divergence (MACD ), demonstrate a strong "bullish" trend.
Well-known analysts and investors expressed confidence in the ability of the digital currency to maintain its upward momentum in the next few weeks.
Over the past few weeks, investors have regularly analyzed Bitcoin rate and its short-term trend, especially in the BTC / KRW (Bitcoin / South Korean won) pair, as South Korea has become one of Bitcoin main trading markets along with Japan. Nowadays, almost 70% of all global transactions with this cryptocurrency fall on the South Korean exchanges.
One more important thing is that professional, large-scale, institutional and retail investors began to enter the cryptocurrency market more actively in Japan and South Korea because of the friendly and practical regulatory framework established by the governments of both countries.
Recently, the Japanese government officially began issuing licenses for cryptocurrency exchanges. Eleven trading platforms have already received the permitting documents, including BitFlyer, the world's largest platform, uniting more than 800,000 active users.
If Japanese and South Korean Bitcoin markets continue to show strong momentum in the coming weeks, the short and medium-term trend of the Bitcoin exchange rate should be directed toward an intermediate target at around $ 6,000. Such statements were made by well-known analysts and investors in the field of cryptocurrency, including journalist, economic observer and fan of digital money Max Kaiser.
Yes this looks promising. Price will hit new high soon.
It will almost double!!!
This is awesome. As you wrote this the price is now up near $4700. About to break it to the upside! sweet!
I guess, that BTC will really rapidly break $4700 and reach $6000 or may be about it.
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