Analysts: encryption market recovery, bitcoin breakthrough $3800, but the market is still not out of the woods

After yesterday’s market soared, bitcoin prices continue to rise, the target price is $4000, bitcoin prices lead to widespread encryption market soared, the total market value of up to $125 billion.

Bitcoin is currently priced at $3820, up 7.3%, a low of $3500 rose sharply yesterday. Although bitcoin yesterday broke the $3600 resistance, but it seems that the $3900 area has become a new resistance, because in the morning, bitcoin prices have been around $3900, but did not break through $3900.

The total market value of bitcoin prices rose to encryption currency reached about $125 billion, 25% higher than the lowest level last week’s record of $100 billion in 2018.

Analysts bitcoin price trend

Despite the recent price trend was welcomed by investors, but it may be a high risk of liquidation traders sell positions in the results, the results will usually lead to encryption market rebound. On this theory, eToro’s senior market analyst Mati Greenspan said bitcoin impressive rebound short covering results, this may mean that the current rebound will be short-lived, people hope to reduce the risk before the holidays, open to sell high risk positions, which will bring to the market price the rise in pressure, resulting in a rebound. Other analysts also believe that the market is still not out of the woods. Genesis Global Trading chief executive Michael Moro told the CNBC that bitcoin need remain above the level of $3900, buyers can really intervene and promote the market prices.

Moro said: “the buyers usually need to see prices remain unchanged after in a few days will really hit, I think before this, $3900 is a short-term key support. “

Bitcoin prices, currency prices soaring encryption Bitcoin rose momentum led encryption market rebound, many encryption currency rose 10%.

Today is the best encryption currency bitcoin cash, according to the current price of $131.2 is calculated, it is currently trading volume of more than 33%.

XRP is currently at a price of $0.374 rose by nearly 12%, the transaction price is much higher than the $0.25 annual lows in August.

Ethernet square currently at a price of $105 rose 11%. Last week, the price of Ethereum remained at the annual lows near $82, the current stock price higher than the price of nearly 30%.

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