Bitcoin price - BTC has a new target: $ 12,000

BTC rebounded above $ 12,000 over the weekend and will seek to establish new support in the coming days.

Bitcoin (BTC) jumped this weekend above $ 12,000 , though it quickly retreated to levels close to 11K. The crypto market in general, and BTC in particular, are experiencing days of wide volatility and bullish sentiment floods investor analysis and projections . At the close of this note, BTC is trading at $ 11,427

In the last week, the macroeconomic scenario has been presented as propitious terrain for the main cryptocurrency by market capitalization to project an encouraging future . The recent rally, in addition, led to an increase in the futures market and in the volume of negotiations , which allowed it to establish a new support.

BTC's correlation with the stock market has been one of the main indicators of cryptocurrency movements in recent months, although the recent rebound suggests greater independence. The entire crypto market gains strength and prominence in the financial world.

The Chicago Mercantile Exchange (CME) futures market opened earlier today below Friday's numbers. Specialists note that the "gap" in the market - between $ 11,450 and $ 11,600 - can shape an objective price in the short term, without booming rebounds or significant falls .

On the other hand, the main movements of the international financial system continue to have an impact on the crypto ecosystem . In this sense, analysts are waiting for the new stimulus measures that the United States will take in the context of a crisis caused by the coronavirus .

In addition, eyes are also on the price of gold , which has been one of the main “safe haven” assets that investors have been betting on in the last week (amid a prolonged fall in the US dollar). The metal continues at all-time highs and is on course to exceed $ 2,000 an ounce .

The main protagonist of the weekend, once again, was Ethereum (ETH) . The reference altcoin bounced above USD 400 in recent days, and today it is trading at USD 394 , after growth of 2%.

The other great figure of the day is XRP , which after a jump of more than 6% pierced USD 0.3. At press time, Ripple's token is trading at $ 0.31 , gaining 40% in just one week.

On the other hand, Bitcoin Cash  (BCH) and Litecoin (LTC) posted higher increases of 3% and are trading above 303 and $ 59 , respectively.

The total capitalization of the market finally begins the week above the 344 thou million .


Current allocation of bitcoin looks that:

◾️Exchanges Balance - 13%
◾️Miners Balance - 9%
◾️Lost Coins - 7%
◾️Darknet Markets - 3%
◾️Other illicit - 1%
◾️Investors, holders - 56% ⭐️

Other 12% to be mined.


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Mickael Pasquier
Mickael Pasquier

Interested in the field of cryptocurrency and blockchain

Mickael Pasquier
Mickael Pasquier

Only Crypto

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