Bitcoin Breaches $10,000 Level to Peak at $10,404 on Tuesday

• Bitcoin Breaches $10,000 Level to Peak at $10,404 on Tuesday

Bitcoin, the world’s most dominant cryptocurrency, on Tuesday breaks the $10,000 key resistance level to peak at $10,404 per coin.

The digital currency plunged from $9700 it traded in May after the third Bitcoin Halving to trade around $8600 for more than a week.

However, the reports that certain large investors referred to whales acquired 12,000 BTC bolstered the cryptocurrency to about $9500 per coin before eventually breaking $10,000 key resistance level on Tuesday.

The digital coin is currently trading at about $10,089 per coin as at 11:28 am Nigerian time on Tuesday.

A break of the key psychological resistance level could lure more buyers into the market and further push the coin to $11,463 resistance level, especially with rising uncertainty in the US and gradually reopening of economies in Europe and the rest of the world. More money could find its way into the cryptocurrency market really soon.

“ETH broke out already, BTC now having its turn,” said Joshua Green, chief investment officer at Orthogonal Trading.

“The macro and fundamental scenario is very bullish, and the market has been shorting into $10,000, under-allocated above $10,000,” Green added.