Bitcoin Price Analysis - Next Price Push Above $12k Soon.

Bitcoin Price Analysis - Next Price Push Above $12k Soon.

2020-07-28 | Big Bob

Bitcoin Price Analysis - Next Price Push Above $12k Soon.

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"]Bitcoin Price Analysis - Next Price Push Above $12k. 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.

[caption id="attachment_9653" align="aligncenter" width="631"]Bitcoin Price Analysis - Next Price Push Above $12k. 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%.

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