Bitcoin Exceeds $4,000 Again, New Record Income?

BTC/USD price has increased in a certain direction over the past few days. And today, it exceeded $4,000.

With positive price action, investors seem to be turning a blind eye to news from China.. Especially the recent news that China’s local Bitcoin exchange BTCC has stopped trading yuan-Bitcoin seems to be ignored.. In a way, this is one of the developments that shows us that China has lost its influence on the market.

In addition, BTCC said in a statement, “All customers will be able to withdraw all their money from our exchanges within 72 hours.”

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On the other hand, rumors are spreading fast that a small group of miners and developers will launch a planned hard fork this month.. The split could result in the creation of a new network called Bitcoin Gold, which would result in the distribution of new cryptocurrencies to all Bitcoin holders, as happened with Bitcoin Cash.

Again. Despite the possibility of a new hard fork, investors are comfortable.. With the rise to the $ 4,000 level, the question “Bitcoin is setting a new record?” comes to mind.. Even if the price analysis points to a rise, there still seems to be a point to be overcome.

A new increase was added by breaking above $ 4,000 on the rise experienced in the previous days.. Looking at the 50-day average, a value of 4,123 must be exceeded for a breakout.. When there is a break and the continuation of the rise is experienced, what happened in July can be repeated and a record may come again.. On the other hand, the rise may come to an end when Bitcoin approaches the low of $ 3880, which is the lowest level of the day.

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