Bitcoin is priced at $ 8,000 amid warnings, rapid growth could return in the form of casualties
Bitcoin prices remain stable today, April 19, a week after a surprise increase took the cryptocurrency up to $ 1,000 up to reach $ 8,000 in the 30-minute span.
Covering a week of more moderate fluctuations around the $ 8,000 mark, support from the commentators note seems to be firm around $ 7,900, paving the way for a further rebound in the coming weeks.
At the time of publication, BTC / USD was quoted around $ 8,250, slightly more than 1 percent up in the last 24 hours.
Commenting on the current movements, the Bitcoin Trading host, Tone Vays, however, advised caution regarding optimism:
"If we can enter an area of $ 8,600, it is very possible that the price runs out," he told viewers in the latest edition of his podcast on April 18.
Just a few weeks ago, Bitcoin traded below $ 7,000 and a return to that area could well occur in the event that prices rose too fast to $ 9,000, Vays said.
However, Bitcoin retaking and maintaining $ 8,000 has coincided with new bullish observations from several industry experts.
The call time in the period of declining trends since December was venture capitalist Tim Draper and CNBC economist Brian Kelly last week, while this week a quarterly outlook from Saxobank continued positive sentiment for the crypto market in 2018.
In alternative currency markets, meanwhile, progress has been in line with Bitcoin's behavior.
Two exceptions to the rule have come in the form of a basic care token (BAT), which gained almost 50 percent the day after a partnership announcement between the Brave platform between the currency and the Dow Jones Media Group. BAT currently trades around $ 0.36, up 22 percent on the day until the time of publication.
The other exception is the alternative currency Verge (XVG), which delivered a similar performance, but in the opposite direction, its value fell by 35 percent in the 24 hours following a highly publicized announcement of its new partnership with the main website adult entertainment Pornhub. Since then, XVG has seen slight gains on the day at the close of this edition, an increase of 0.65 percent to trade around $ 0.07.