Thu, 07/25/2019 - 06:18

Bitcoin Price Once Again Prints $10,000 with Low Trading Volume

Bitcoin doesn’t want to give up on its five-digit price tag, but it has so far failed to break through previous resistance

Cover image via CryptoComes.com

Bitcoin, the top cryptocurrency by market capitalization, has risen above $10,000 as the bulls and the bears continue playing tug-of-war. At the time of writing, BTC is trading at $10,073, CoinMarketCap data shows.

According to cryptocurrency trader Josh Rager, Bitcoin failing to break above $10.146 would result in another drop to the $9,600 level. Conversely, a breakout above this price mark will allow the bulls to aim for $11,000.

On a side note, Bitcoin trading volumes have been comparatively low as of recently, which makes it easier to manipulate the market.

Alex Krüger, another trading expert, points out that BitMEX Bitcoin volumes have dropped by a whopping 42 percent this week due to the CFTC probe.

Bitmex bitcoin volumes have dropped 42% since last week's CFTC news (as measured by volume's 4 day moving average).
— Alex Krüger (@krugermacro) July 23, 2019

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Alex Dovbnya

Alex covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. He’s a firm believer that Blockchain has the potential to reshape pretty much every business out there, and cryptocurrencies are only a stepping stone to the upcoming decentralized revolution.