Multiple Metrics Make the Bullish Case for Bitcoin | Cointelegraph
Bitcoin’s price steadily climbed from $9,100 to $10,900 over the past week. Is a move to $12,000 and higher back in the cards?
Over the past week investors’ short-term sentiments about Bitcoin’s prospects appear to have improved. While last week’s market update made the case for why top investors and analysts are overwhelmingly bullish on Bitcoin’s predicted long-term price action, the fall from $13,800 to $9,100 did shake retail investors confidence for the short term.
Prior resistance levels that were obliterated throughout Bitcoin’s ascension from $4,000 to $13,800 proved to be weak support and many investors expected Bitcoin to drop to $8,500–$7,500 before reversing course.
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