Bitcoin price (BTC/USD) looks to retake $12,000, as market sentiment improves on Friday
While Bitcoin has experienced some difficulties during today’s morning trading, the coin has been able to further its recovery and move closer to retaking the $12,000 level. At the time of writing, the Bitcoin price was hovering around the $11,900 mark, according to data from digital currency tracker Coinmarketcap.
The recent correction has raised questions over whether Bitcoin could continue its run. According to Jim Iuorio, managing director of TJM Institutional Services, BTC’s rally may not be over just yet.
“I said yesterday that as long as it stayed above $10,000, I still think it has some decent upside,” Iuorio told CNBC on Thursday. “Granted, I didn’t know it was going to go back and test that $10,000 [level] so quickly, but I still think I’m looking now for some sort of constructive pattern for it to go higher.”
Iuorio said that the “size and the speed of the rally was unreasonable, and the size and the speed of the correction was even worse” and described the recent retraction as “a healthy movement”.
In today’s trading, the Bitcoin price stood at $11,983, as of 11:05 BST. The digital coin has gained $0.9% in the past 24 hours. Its total market capitalisation currently stands at $213.1 billion, which represents 62.9% of the combined value of all digital currencies.
Featured image: Igor Batrakov / Shutterstock.com
More Resources
The post Bitcoin price (BTC/USD) looks to retake $12,000, as market sentiment improves on Friday appeared first on The Independent Republic.
TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some Satoshi with the exciting new Lightning Network Tippin.me tool!
Article comments