On Wednesday (February 5), the price of Bitcoin surged past $9,500 for the first time since last Thursday (January 30).
According to data from CryptoCompare, at 16:00 UTC today, the Bitcoin price moved above the $9,500 for the first time this month. By 16:55 UTC, it had reached $9,564.
At press time (17:45 UTC), Bitcoin is trading at $9,550, up 4% in the past 24-hour period.
Bitcoin’s market cap is currently around $173.8 billion. So far, this year, Bitcoin is up 32.83% against USD.
Earlier today, former eToro Senior Analyst Mati Greenspan, who is the Founder of FinTech and crypto consultancy Quantum Economics, predicted that Bitcoin could reach $10K by the end of today (February 5):
— Mati Greenspan [tweets are not trading advice] (@MatiGreenspan) February 5, 2020
Gabor Gurbcas, the digital asset strategist/director at VanEck/MVIS, had a “gentle reminder” for those naysayers who have long been predicting the demise of Bitcoin:
When #Bitcoin dropped to ~$3000 by early 2019, many in mainstream media and finance yelled that Bitcoin is going to zero. Gentle reminder that Bitcoin didn’t go to zero. Bitcoin price is in fact up more than 300% since then. pic.twitter.com/gOkfYapdeS
— Gabor Gurbacs (@gaborgurbacs) February 5, 2020
As for the famous “Bitcoin Fear and Greed Index”, as of 12:00 UTC on February 5, its value was 53 (“Neutral”):
Bitcoin Fear and Greed Index is 53 – Neutral pic.twitter.com/aTmNomEu5r
— Bitcoin Fear and Greed Index (@BitcoinFear) February 5, 2020
Popular crypto analyst/trader Josh Rager, who is also a Co-Founder of online crypto learning platform Blockroots, as well as an advisor to several blockchain startups, offered this bit of technical analysis:
$BTC erasing the last 3 days of loss with one candle
The magic number is to still get above the $9550s, with a close above there, the price would likely continue upward as there isn’t a lot of resistance before $10k pic.twitter.com/pjVhlf0sof
— Josh Rager 📈 (@Josh_Rager) February 5, 2020
The altcoins are also doing very well today, with all cryptoassets in the top 20 in the green; of these, the three biggest gainers are Bitcoin Cash (+14.53%), Bitcoin SV (+12.56%), and Dash (+11.32%).
Featured Image by “David McBee” via Pexels.com