Bitcoin
$ 10,379
Ethereum
$ 335.36
Litecoin
$ 43.91




Bitcoin Rips to $6,750 In Move Reminiscent of Last Year's 25% April Fool's Rally

Bitcoin Rips to $6,750 In Move Reminiscent of Last Year’s 25% April Fool’s Rally


Since NewsBTC’s last market update, Bitcoin has continued to rip higher, recently hitting $6,750. With this, the cryptocurrency is up nearly 9% from the daily lows around $6,200, and up over 16% from the weekend lows at $5,800.

Although not on the same magnitude, many have likened Bitcoin’s recent price action to the 25% surge seen on April Fool’s and April 2nd last year, which was a move that kickstarted a rally from the $4,000s to $14,000 by mid-June.

Analysts believe that the cryptocurrency could continue higher.

Could Bitcoin Continue Even Higher?

Prominent cryptocurrency trader Flood, who called Bitcoin’s weekend move under $6,200, recently wrote that the cryptocurrency next’s stop is likely $8,000. His charts show $8,000 as a key resistance and $7,000 to $8,000 as no man’s land from a volume profile perspective.

Also, according to Bloomberg, the recent price action has allowed a key buy signal to appear: the Bloomberg Galaxy Crypto Index (an index of the top digital assets that includes Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, and EOS) recently printed a buy signal, according to a trend indicator, the GTI Vera Convergence Divergence Indicator

A buy signal was last seen early on in January, when Bitcoin was trading in the mid-$7,000s. And a sell signal was seen near the end of February, when BTC was trading in the mid-$9,000s prior to the infamous March 12th capitulation, which has since been dubbed “Black Thursday.”

Featured Image from Shutterstock





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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin10,379 0.18 % 1.30 % 5.23 %
Ethereum335.36 0.67 % 1.82 % 8.15 %
Tether0.9984 0.13 % 0.12 % 0.07 %
XRP0.2248 0.50 % 4.00 % 9.07 %
Bitcoin Cash212.55 0.38 % 1.85 % 8.21 %
Polkadot4.210 1.16 % 2.36 % 17.03 %
Binance Coin23.69 0.61 % 1.17 % 14.97 %
Chainlink8.700 1.72 % 3.68 % 19.06 %
Crypto.com Coin0.1492 0.21 % 2.21 % 11.37 %
Litecoin43.91 0.16 % 2.28 % 8.24 %