Bitcoin Past $ 9,700 Level: What Is BTC's Current Target?

Bitcoin Past $ 9,700 Level: What Is BTC's Current Target?

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Commenting on the Bitcoin price, the analyst issued a statement that broke hopes.


Leading cryptocurrency Bitcoin has entered a volatile period, again experiencing severe price rises after months of stagnation that has literally squeezed investors. Bitcoin was seen hovering above $ 9,500 at a time late last week. Over the weekend, the BTC/USD trading pair managed to rise above $ 9,700 in some exchanges.


In fact Bitcoin broke resistance at $ 9,700 for the first time in weeks with this move. Bitcoin's next target, which is up 5% in a single week, is not fully known. The common view of many cryptocurrency analysts is that BTC appears to be at exactly the pivot point.


Will Bitcoin Be Able To Sustain Its Rise?

TraderKoz, one of the leading cryptocurrency analysts, said on the issue that a further $ 9,700 would come in at $ 10,400. The analyst said there was no need to rejoice ahead of this level, but hinted that the rise would begin clearly.


However, the fact that the price of Bitcoin has dropped below $ 9,400 could end the fresh excitement of the rise. The analyst, who said he thought it was a fake rise, also expects the price of Bitcoin to go down again to $ 8,000.


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