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Bitcoin Price May Surge to $9,400: Crypto Traders

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  • Yuri Molchan
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    After breaking upwards yesterday, after Upbit’s hack, Bitcoin price surged to the $7,200 area, traders say that BTC needs just a little more growth to get over $9,000

Bitcoin Price May Surge to $9,400: Crypto Traders
Cover image via 123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The Upbit hack allegedly made by an insider that deprived the exchange of $50 mln in South Korea yesterday gave Bitcoin enough momentum to surge over the $7,000 level.

At the time of writing this, the father crypto is sitting at $7,537 as per data from CoinMarketCap.

Bitcoin price CMC
Image via CoinMarketCap

Crypto traders are predicting that the Bitcoin price may surge even higher, over the $9,000 level, if it manages to stay above the $7,700 area.

‘Closing above $7,630 may trigger higher price surge’

A crypto trader @livercoin believes that Bitcoin is going to rise to $9,400 should today’s trading close above $7,630.

However, in the tweet he was rather inclined towards a bearish scenario and a correction that Bitcoin may face soon.

‘Rising above $7,733 should cause further growth’

Another trader, @BigChonis, suggests a similar bullish scenario, saying that Bitcoin needs to rise above $7,733 to continue its uptrend. It is hard to be bullish on BTC until it remains under this level, he says.

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A trader compared Bitcoin to Apple shares

In an attempt to encourage the community and reduce the amount of FUD, a trader @CryptoWelson has posted a tweet, comparing Bitcoin to Apple shares in the period when the share price went down and the media was spreading fear, uncertainty and doubt about the computer making giant.

Steve Jobs says on the video that he just bought more Apple shares without heeding what the press was saying.

 

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls

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  • Alex Dovbnya
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    The Bitcoin price could soon touch $7,800 if bulls persist, but this move could be a short-lived one

Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls
Cover image via u.today

Popular crypto trader Wendy O recently predicted that the price of Bitcoin would "rocket up" if it managed to surge above the $7,400 level. 

Bitcoin Price
image by @CryptoWendyO

Shortly after that, the BTC price did rise above the aforementioned level, currently sitting at $7,444, according to CoinStats data

Bitcoin Price
image by coinstats.app

If the aforementioned forecast turns out to be accurate, Bitcoin traders could soon see another fakeout, which would be similar to the one that took place on Dec. 4. As reported by U.Today, BTC printed a massive green candle in less than a minute, but this unexpected pump quickly evaporated.     

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Earlier today, multiple traders predicted that Bitcoin was about to make a big move in either direction, but $7,800 seems to be the main area of interest for them. The leading cryptocurrency hasn't touch this level since Nov. 30. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an 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.

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