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Bitcoin Price Analysis - Next Price Push Above $12k Soon.
2020-07-28 | Big Bob
Following the past few hours, the price of the leading cryptocurrency Bitcoin [BTC] pushed via the $11k bench mark level within a high volume surge which saw the worth reach a new 2020 high at $11,394 USD.
At the time of reporting the price has pulled back slightly to the $10,923.74 USD range but purchasing volume continues to rise on the 1-hour timeframe. This means that the top-ranked digital asset on CoinMarketCap may have another go at the daily high.
[caption id="attachment_9652" align="aligncenter" width="641"]
CryptoMarket Price Update - CMC[/caption]
As reported earlier, on-chain activity registered a big spike in exchange inflow as Bitcoin price rallied above $10k and Bloomberg analysts now estimate that Bitcoin price will rise even above $12k, following this year.
The price of second largest cryptocurrency, Ethereum [ETH] has also surged above its previous high by rallying to $333.52 USD but at the time of reporting the leading altcoin has pulled back below $317.25 USD.
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1-Month Ethereum Price Chart - CMC[/caption]
In line with CoinMarketCap, the overall cryptocurrency market capitalisation now stands at $320.79 Bln. Bitcoin’s dominance index presently at 63.1%.
