Current Bitcoin price is about 7 034 USD. Over last 24 hours BTC notes an 3,59% increase. Leading cryptocurrency has once again climbed over 7 000 USD resistance level.
BTC price chart situation
After a tragic loses in March, Bitcoin is slowly regaining its strength. Last week, leading cryptocurrency broke 7 000 USD level, and did it once again today. Yesterday’s session on Bitcoin was opened at 6 862 USD, and closed on 6 791 USD. It was a decrease of 61 USD, so 1,04%. Today, Bitcoin price seems to be back on track. Its current price is 7 034 USD.
Looking on the Fear & Greed Index on cryptocurrency market, we see, that despite such progress, it still remains on extremely high level.
What does analytics say?
Moods among cryptocurrency enthusiast are most likely optimistic. For instance, Jason WIlliams from Morgan Creek believes, that Bitcoin will reach its ATH - a record price level in September this year. Let us remind, that in December 2017, Bitcoin price hit 20 000 USD!
Among Bitcoin supporters there are also those, who believe, that BTC price will decrease shortly after halving occures. They are trying to connect it somehow with Coronavirus pandemic. According to some of them, Bitcoin price may decrease to 2000 - 2200 USD level.
However, it is worth taking into account the fact, that reward gained from Bitcoin miners decreases every 4 years (more specifically, after every 210 000 excavated blocks). People working in this industry are prepared for halving to occur. Some of them will surely leave the market, as the process will not be profitable for them anymore, but it is a good opportunity to take the lead for others. Many people think, that there are companies which can afford initial loses, to take control over the market in long-term period of time.
To sum up, more conflicting thesis are yet to come in following days. It is important to not to panic, because not all of them are relevant.