Bitcoin Price Breaks $7,000 After 4% Gain, Crypto Market Adds $12 Billion

[HappyWhiteHuman]

Bitcoin Price Breaks $7,000 After 4% Gain, Crypto Market Adds $12 Billion
In the past 24 hours, despite the negative expectations of most investors towards Bitcoin, the crypto market has recovered by $12 billion from $216 billion to $228 billion.

The Bitcoin price has surpassed a key resistance level at $7,000 after breaking out of the $6,800 mark, which as several widely recognized cryptocurrency traders emphasized, was crucial for the short-term recovery of Bitcoin.



If Bitcoin had failed to surpass beyond the $6,800 mark, a minor correction could have been initiated, potentially leading the dominant cryptocurrency back to low $6.000. Instead, with a solid spike in volume and newly gained momentum, BTC has recovered to $7,000 bringing tokens with it.

Tokens are Flying
While Dash, Gas, and IOTA remain as the best performing cryptocurrencies of August 28 with 26 percent, 22 percent, and 19 percent gains, tokens have generally performed extremely well in the past five days.

Throughout August, due the correction of BTC from $8,000 to $5,850, tokens and small market cap cryptocurrencies have performed poorly against both Bitcoin and the US dollar.
https://www.ccn.com/bitcoin-price-breaks-7000-after-4-gain-crypto-market-adds-12-billion/

[betty12]

Just saw that now and am happy about the breaking of $6700 resistance. Should the general market keeps increasing. we may see a more bitcoin bullish movement.

[vlad230]

Good news! I've been waiting for a return of the bull for some time now...

Hopefully this will be the beginning of a new trend that will go on at least to the end of the year, fingers crossed!  

Do you have any news on what was the catalyst for this switch to a bull market?

[GhostWithin]

So what? What is surprising about this news?
One of these days the rate will decrease to $ 6500- $ 6700. And then again there will be growth.
And this has been going on for a very long time ...

[charlotte04]

Bitcoin Price Breaks $7,000 After 4% Gain, Crypto Market Adds $12 Billion
In the past 24 hours, despite the negative expectations of most investors towards Bitcoin, the crypto market has recovered by $12 billion from $216 billion to $228 billion.

The Bitcoin price has surpassed a key resistance level at $7,000 after breaking out of the $6,800 mark, which as several widely recognized cryptocurrency traders emphasized, was crucial for the short-term recovery of Bitcoin.



If Bitcoin had failed to surpass beyond the $6,800 mark, a minor correction could have been initiated, potentially leading the dominant cryptocurrency back to low $6.000. Instead, with a solid spike in volume and newly gained momentum, BTC has recovered to $7,000 bringing tokens with it.

Tokens are Flying
While Dash, Gas, and IOTA remain as the best performing cryptocurrencies of August 28 with 26 percent, 22 percent, and 19 percent gains, tokens have generally performed extremely well in the past five days.

Throughout August, due the correction of BTC from $8,000 to $5,850, tokens and small market cap cryptocurrencies have performed poorly against both Bitcoin and the US dollar.
https://www.ccn.com/bitcoin-price-breaks-7000-after-4-gain-crypto-market-adds-12-billion/

It is good that I bought at the 6800 levels before it gone up by that. I really gave me some profits and I would continue on trading Bitcoin for now.

[LogitechMouse]

Not really surprise to be honest. This is just a small pump in the price of Bitcoin and for me, we are still in the bear market. No signs of a trend reversal. I agree that 6800$ is the resistance and now it is broken. I don't see any signs that we will be going into a bull market. This is a common news and its not surprising.

[close up]

Not really surprise to be honest. This is just a small pump in the price of Bitcoin and for me, we are still in the bear market. No signs of a trend reversal. I agree that 6800$ is the resistance and now it is broken. I don't see any signs that we will be going into a bull market. This is a common news and its not surprising.

For the long term, yes it still in bearish situation. But not for the short term, it is a bullish situation.

[HE[A]RTLESS]

have any news to make price go to 7K?

[palle11]

we are still in the bear market.

I also do not think that the market has gone bullish until I see the price crossing $8,000.It got to $8,000 four months ago before retracing to $5,500 last two months. So I won't just conclude at the moment that we entered a bull trend.

[BrewMaster]

breaking the $7k resistance was a good sign and it happened pretty smoothly but at the same time with a very slow pace. and i believe it is all a good sign showing that weak hands and FOMO buyers aren't completely back to the market yet so we can expect no panic sells either.
if this trend continues we can see higher prices before the ETF nonsense begins again although i don't know how effecting it is going to be this time after so many ETFs rejected already!

[gunhell16]

Thus will be a bog chance for everyone...
Btc starts to grow and this is a big break.
Why is that? Btc is everything look at the market...
Everything change promise

[mojo2208]

finally we have waited for this! After so much time of decline in the market. Growth began! Hooray ! Friends!

[tomahawk9]

Do you have any news on what was the catalyst for this switch to a bull market?

We've been in the accumulation phase for quite a while, it was a matter of time before the bulls triggered a new btc rally. Still, it's too early to say if we're currently in a bull market, though if the 7k holds for a few days or more, a bullish trend might kick in very soon.

We only need to stay above the the last resistance level, or at least around the 7k levels if we want to see some bullish movements in the upcoming days/weeks.

[peter0425]

Do you have any news on what was the catalyst for this switch to a bull market?

We've been in the accumulation phase for quite a while, it was a matter of time before the bulls triggered a new btc rally. Still, it's too early to say if we're currently in a bull market, though if the 7k holds for a few days or more, a bullish trend might kick in very soon.

We only need to stay above the the last resistance level, or at least around the 7k levels if we want to see some bullish movements in the upcoming days/weeks.

Right, accumulation or consolidation in the last 3 weeks or so. That's why if everyone have noticed, bitcoin is trading sideways, indicative that something is brewing, - either bullish or bearish. Glad though that the we make a sudden break out and see the price goes to $7K at this moment. So it means that a new trend has emerge and its going to be interesting to see in the coming days if this trend's gonna hold or break apart again.

[BlockchainGod]

This is a good sign. I think we expect a bullish short-term trend, but only a short-term one..... Bitcoin is still too weak to reach a new ATH

[hulla]

So what? What is surprising about this news?
One of these days the rate will decrease to $ 6500- $ 6700. And then again there will be growth.
And this has been going on for a very long time ...

There is nothing to be surprise about the market gaining some increase in price because this not the first time and it won't be the last time but for those that bought during the all ATH they will pray that the price keeping on increasing.
@OP, base on fundamental analysis. I'm not amaze to see some pump in price of the market because it also does and this is the begining just wait till it September.

[maskeffec]

I think this is general news and we have often heard it, because we have all been waiting for the return of the bull to return the loss after the market falls. This is just a small pump in the price of Bitcoin and for me, we are still in the bear market. There are no signs of a trend reversal. I see no sign that we will enter the bull market.

[alexgreen2018]

This just seems a false breakout. We will need to see if bitcoin becomes stable over 7k. It needs to hold this level for few more days so that we are sure of a reversal. Till then its still risky to trade and invest.

[Samarkand]

...
if this trend continues we can see higher prices before the ETF nonsense begins again although i don't know how effecting it is going to be this time after so many ETFs rejected already!

I think it is too early to call this a trend. The BTC price may have
crossed the 7000 $ barrier, but it isn´t clear whether it will be able
to stay at these levels at all (in fact BTC dropped to ~6950 $ right now).

It is entirely possible that this was just a small price rise to squeeze some shorts
on BitMEX or Bitfinex. In my opinion it is pretty suspicious that we always see these
price increases just when short positions are reaching pretty high levels at these
platforms.

[tomahawk9]

Do you have any news on what was the catalyst for this switch to a bull market?

We've been in the accumulation phase for quite a while, it was a matter of time before the bulls triggered a new btc rally. Still, it's too early to say if we're currently in a bull market, though if the 7k holds for a few days or more, a bullish trend might kick in very soon.

We only need to stay above the the last resistance level, or at least around the 7k levels if we want to see some bullish movements in the upcoming days/weeks.

Right, accumulation or consolidation in the last 3 weeks or so. That's why if everyone have noticed, bitcoin is trading sideways, indicative that something is brewing, - either bullish or bearish. Glad though that the we make a sudden break out and see the price goes to $7K at this moment. So it means that a new trend has emerge and its going to be interesting to see in the coming days if this trend's gonna hold or break apart again.

I'm still not completely sold on this sudden increase in the price, so I find it hard to say that a new trend has started, just my opinion. It just looks like we're at the mercy of the whales, and it seems like some whales don't want to see 7k just yet.

We just a dump which took us from 7100 to the high 6.9k, looks like we're gonna test the 7k barrier again, hopefully, this time it'll hold for a few more days so we can continue that slow uptrend movement.