Bitcoin Price Is on Track to Test $8,500 Again

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Wed, 06/12/2019 - 19:08
Alex Dovbnya
The crypto king shows beautiful price moves as it is vying to retest its 2019 highs       
Bitcoin Price Is on Track to Test $8,500 Again
Cover image via U.Today
Contents

After days of going back and forth, Bitcoin, the top coin by market capitalization, is vying to hit the $8,500 mark once again in 2019. At the time of writing, the BTC price is sitting at $8,143.51.

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The bulls gain the upper hand

 After going back to the $7,900 level, the Bitcoin price experienced yet another push to $8,200, thus breaking its two-week resistance.

In his most recent tweet, cryptocurrency trader Josh Rager shared his short-term prediction, claiming that Bitcoin is well-positioned to hit at least $8,550. $8,700 could be Bitcoin’s next target if this bullish momentum persists.  

Earlier today, U.Today reported about Coinbase launching its debit card in six European countries, which could serve as a catalyst for the coin’s long-term growth. In other news, Tether recently printed 150 mln USDT, but they haven’t been issued yet.

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Altcoins follow the lead

Speaking of the broader market, Litecoin boasts the most notable gains. As reported by U.Today, LTC has already been on a roll for a couple of weeks ahead of its much-hyped halvening that it will take place this August.

Meanwhile, Cardano, which has been recently pushed out of the top 10 by Bitcoin SV, appears to be today's winner with its 8.45 percent price increase.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.