“After a prolonged struggle at the psychological support of $25,000, Bitcoin managed to hold steady. Range traders will now be looking to take profits just above $30,000,” said Mati Greenspan, chief executive officer of Quantum Economics.
Some analysts are questioning how long this latest rally will last and as reported previously the level investors are watching on Bitcoin is $28,800.
“I don’t see a clear catalyst for the move up,” said Dessislava Ianeva, senior research analyst at Kaiko. “In the current low liquidity environment, relatively low buying/selling pressure could amplify spot price movements and spur liquidations on derivatives markets.”
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