Home Cryptocurrency News Bitcoin Bitcoin Surpasses $9400 As Bullish Sentiment Wins Out

Bitcoin Surpasses $9400 As Bullish Sentiment Wins Out

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Bitcoin climbed above $9,400 today. Shutterstock

Bitcoin prices rose above $9,400 today, pushing higher as the market benefits from the return of positive sentiment.

The world’s largest digital currency by market value reached&nbsp;$9,407.81, according to the CoinDesk Bitcoin Price Index (BPI).

At this price, Bitcoin was up 46% from the recent low of $6,443.20 on April 1 and at its highest in more than a month, additional BPI figures show.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

‘A Positive Shift’

“Bitcoin’s spot price has definitely seen a positive shift in sentiment and momentum over the past week,” said&nbsp;Joe DiPasquale, CEO of cryptocurrency fund of hedge funds&nbsp;BitBull Capital.&nbsp;

Some big players have recently entered the space, and many of the circumstantial barriers that were feeding the bears appear to have lifted,” he added.

“All indications show this should be the start of a nice, steady climb.”&nbsp;

Widespread Confidence

While Bitcoin prices have risen lately, they have not been alone in this respect.

At the time of this report, 24 of the top 25 cryptocurrencies by market capitalization (market cap) were up over the last 24 hours, CoinMarketCap data reveals.

The digital currency markets are benefiting from widespread confidence, stated&nbsp;Matthew Newton, Analyst at social trading platform eToro.

Crypto ‘Here To Stay’

“The bulls are back in charge,” said&nbsp;Jeff Koyen, CEO of&nbsp;360 Blockchain USA.&nbsp;

He elaborated on this statement, speaking to the current state of digital currencies.

Some of the credit goes to big names like Soros and Rockefeller stepping into the ring, but it’s bigger than that.”&nbsp;

As I predicted a few months ago, the Q1 downturn was the perfect opportunity for crypto to take a deep breath and look in the mirror,” he mused.

However, “Bitcoin will not reach $20,000 again without a certain amount of regulation and sobriety,” he stated, emphasizing that regulatory frameworks surrounding digital currencies could still benefit from substantial improvement.&nbsp;

Cryptocurrency is here to stay,” said Koyen, emphasizing that it is&nbsp;“time for regulations to catch up.”

Disclosure: I own some Bitcoin, Bitcoin Cash and Ether.

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Bitcoin climbed above $9,400 today. Shutterstock

Bitcoin prices rose above $9,400 today, pushing higher as the market benefits from the return of positive sentiment.

The world’s largest digital currency by market value reached $9,407.81, according to the CoinDesk Bitcoin Price Index (BPI).

At this price, Bitcoin was up 46% from the recent low of $6,443.20 on April 1 and at its highest in more than a month, additional BPI figures show.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

‘A Positive Shift’

“Bitcoin’s spot price has definitely seen a positive shift in sentiment and momentum over the past week,” said Joe DiPasquale, CEO of cryptocurrency fund of hedge funds BitBull Capital

Some big players have recently entered the space, and many of the circumstantial barriers that were feeding the bears appear to have lifted,” he added.

“All indications show this should be the start of a nice, steady climb.” 

Widespread Confidence

While Bitcoin prices have risen lately, they have not been alone in this respect.

At the time of this report, 24 of the top 25 cryptocurrencies by market capitalization (market cap) were up over the last 24 hours, CoinMarketCap data reveals.

The digital currency markets are benefiting from widespread confidence, stated Matthew Newton, Analyst at social trading platform eToro.

Crypto ‘Here To Stay’

“The bulls are back in charge,” said Jeff Koyen, CEO of 360 Blockchain USA

He elaborated on this statement, speaking to the current state of digital currencies.

Some of the credit goes to big names like Soros and Rockefeller stepping into the ring, but it’s bigger than that.” 

As I predicted a few months ago, the Q1 downturn was the perfect opportunity for crypto to take a deep breath and look in the mirror,” he mused.

However, “Bitcoin will not reach $20,000 again without a certain amount of regulation and sobriety,” he stated, emphasizing that regulatory frameworks surrounding digital currencies could still benefit from substantial improvement. 

Cryptocurrency is here to stay,” said Koyen, emphasizing that it is “time for regulations to catch up.”

Disclosure: I own some Bitcoin, Bitcoin Cash and Ether.

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