Bull Revival of Bitcoin with Highest Price Surge in Months Crossing $9.7K
It turned out to be a fine day for all who have been holding on to their BTCs waiting for a bull revival, as the crypto experienced its highest surge in months. After days of bear trends with prices stalling at $9000, Bitcoin leaped 7.5 percent crossing the $9770 mark, within just hours.
Although the surge was closely followed by a mild dip with prices lingering around $9.6K, market specialists are expecting BTC to reach $10K very soon.
The Surge Timeline
It was during the late hours of Tuesday, that Bitcoin started showing bullish trends with prices going uphill from $9.1K and jumping to $9.4K and then finally crossing the $9.7K mark on Wednesday.
Image courtesy – PayBito Exchange
It was a completely unexpected turn of events considering that the coin has remained bearish for the past few months to be exact. Bitcoin started the week with significant selling issues that lead to a $9,075 dip in the prices.
The surge has played its part in erasing the losses made on Tuesday, which has validated the bullish revival of the 100-day averages.
Crypto experts are citing several causes behind this sudden bear-to-bull trend change. Many hold this view that the strong volume and momentum is going to continue in the upcoming days up till May when the halving happens. Some are even predicting a price surge of $18.5K before halving.
The overall crypto market cap evaluation at present stands at $271.5 billion with BTC’s dominance rate as 64.6%. Altcoins have also mirrored Bitcoin’s price surge with many producing double-digit gains.