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    Home » Crypto News » Bitcoin Price Skyrockets 7% To New 2020 High: $10,000 Coming Soon

    Bitcoin Price Skyrockets 7% To New 2020 High: $10,000 Coming Soon

    Author: George Georgiev

    Last Updated Feb 5, 2020 @ 19:04

    Bitcoin has marked yet another particularly turbulent day of trading, charting increases of up to 7% in the past 24 hours. This caused the cryptocurrency to spike to a new high for 2020, lining up the question if $10,000 is the next target.

    Bitcoin Price Skyrockets 7% On The Day

    If one thing is certain for 2020, it’s that there is no boring day in the cryptocurrency market. In the past 24 hours, Bitcoin’s price surged above the previous yearly high to reach prices that were last seen back in October 2019.

    Bitcoin’s price reached upwards of $9,750 today, shattering the critical resistance at $9,400 on the way.

    BTCUSD Chart
    BTC/USD. Source: TradingView

    As seen on the above chart, the last time the price was this high was back in October 2019. At the time of this writing, the price retraced back to about $9,686, which is still an increase of more than 5% on the day.

    As Cryptopotato previously reported, Bitcoin had recently charted the mini Golden cross as the 50-day moving average crossed above the 100-days moving average. Amid this notable increase, the next target for Bitcoin might just as well be $10,000. However, it is also essential to see how the price performs at around $9,550 and whether or not this level manages to become a support.

    ADVERTISEMENT

    Altcoins Surge As Well

    It’s not just Bitcoin that went up today. The entire cryptocurrency market surged as well. Bitcoin’s dominance continues to fade as it’s currently at 64.5%. This means that altcoins are claiming new grounds.

    Cryptocurrency_overview
    Cryptocurrency Market Overview. Source: Coin360.com

    The entire cryptocurrency market is painted green. Some of the most notable gainers include Bitcoin Cash, up almost 14%, and Bitcoin SV, up 13%. Ethereum is also marking serious gains of about 8.5% and is already trading above $200. In general, all the top 20 cryptocurrencies are trading in the positive.

    The entire market capitalization increased by more than $13 billion today, and it currently stands at about $271 billion.

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    Tags: Altcoins Bitcoin (BTC) Price
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    About The Author

    George Georgiev
    More posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

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