Bloomberg: $10,000 is a strong resistance to Bitcoin

According to Bloomberg News, the highest value cryptocurrency bitcoin has weakened after the surge last Friday, and $10,000 will become a strong resistance for Bitcoin.

According to the report, the impact of Bitcoin on China's top leaders on blockchain technology last Friday rose by $2,500, but it was never able to break through and remain above $10,000, indicating strong resistance near this price. The historical price model shows that many investors are still waiting for bitcoin prices to break through this level to confirm the uptrend.

China's shift in attitudes towards the blockchain and encryption industry is a hot topic this week, and several regions and industries have launched positive policies to support the development of the blockchain industry this week.

Guangzhou issued the “Detailed Implementation Rules for Accelerating Blockchain Industry Leading Change”, encouraging the establishment of a 1 billion-yuan blockchain industry fund to attract social capital agglomeration to form a capital supply effect, providing angel investment, equity investment, and post-investment appreciation for enterprises. Such as multi-level services, the establishment of "multi-base + large funds" distributed financial ecosystem.

The central bank's Shanghai headquarters issued the "Guiding Opinions on Promoting the Development of Financial Technology to Support the Construction of the Financial Technology Center in Shanghai". The opinion puts forward the promotion of independent innovation and research and development of security technologies represented by cryptography, quantum technology and biometrics. Strongly support the research of underlying cryptography technologies such as basic cryptography and advanced cryptography, and promote the application and development of cryptography.

According to the data, as of the time of publication, the price of Bitcoin has fallen back to around $9,200, and the recent trend is slightly weak. And well-known encryption analyst Thomas Lee said that there are a number of signals recently indicating that the cryptocurrency market will turn into a bull market. In addition to China's support and the sharp rise last Friday, the S&P 500 index hit a new high and bitcoin suffered. The bottom of the index.

Shawn Cruz, trading strategy manager at TD Ameritrade, said that $10,000 has become a psychological barrier for investors. As investors continue to argue whether it is an asset or a currency, it is difficult to value it.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

OK Jumpstart and then the exchange "new hot" rules are too complicated for users to "do not understand"?

This afternoon, the digital asset exchange OKEx officially announced the sales rules of OK Jumpstart. The rule shows ...

Blockchain

Derivatives track has become an industry consensus. Bitcoin will be up to 20,000 US dollars in the year?

2020 cryptocurrency market welcomes a good start: BTC rose more than 29% in January, and regained the 10,000 yuan mar...

Blockchain

Inside story How FTX stays up all night to prevent a $1 billion cryptocurrency theft case

On the same day FTX announced bankruptcy, someone began stealing hundreds of millions of dollars from its vault. An i...

Blockchain

Babbitt Column | Money Money Risk Avoidance Guide for Digital Currency Trading Subjects

The anonymity and complexity of digital currency trading make trading participants and trading platforms face many ri...

Blockchain

Data decreased slightly, rumors triggered a single-day net outflow of Binance

From the data of the past week (02.17-02.23), compared with the previous week (02.10-02.16), all the data have slight...

Blockchain

Exchange pushes Singapore into compliance

Text: 嚯 嚯 Source: Hive Finance On March 27, the Singapore Financial Regulatory Authority (MAS) official...