As of now Bitcoin is trading below $8,800 but the traders are optimistic about its rise. In the market its price is expected to reach $9,000.
Reports are being discussed on twitter about ban lifting of the cryptocurrency in India, it’s a reverse on the RBI’s decision from the spring 2018.
With Bitcoin’s hash hitting its new all-time high traders are expecting it to rise further. Traders have kept an eye on the BTC market price and are hopeful that it would touch the $9,000 mark but keeping in mind about the much-expected halving in about 70 days, it seems impossible.
Crypto trader on twitter expressed his views about the Bitcoin price rise, asking the community to prepare for it to return to the $9,000 area.
Liking what I see here. Mid range flip played out beautifully. Prepare for low 9k's I'd say. pic.twitter.com/CaBngjeF7v
— George (@George1Trader) March 4, 2020
Crypto trader @PostyXBT tweets:
Using this 1H range between $8.5k-9k to see where we could be heading next. Bulls back above that 50% level for the time being but I’d like to see a clean break in either direction. Weary of potential fake outs as seen at support twice.
‘The weekly 21 EMA makes me excited’
‘CryptoWolf’ likewise shares his bullish interpretation of transient possibilities at the Bitcoin cost. Counting bullish subtleties on the outlines, the broker infers that he feels amped up for BTC
Bitcoin holding the daily MA200, the 3d ma50 , the weekly ma50 and the weekly 21EMA makes me horny.
— CryptoWolf (@IamCryptoWolf) March 4, 2020
RBI crypto ban ends
Prior on March 4, Supreme Court of India had at long last evacuated the crypto ban the Indian Reserve Bank forced on Indian crypto trades and banks in spring 2018.
Numerous in the network have accepted this as a bullish sign. MATIC has exhibited a 27-percent ascend on this occasion. This could turn into a trigger for additional Bitcoin value development.