After the price rally of the past months and a new annual high in the previous week, the Bitcoin took a break in the past few days. Despite the consolidation, the share price is currently around 113 percent higher than at the beginning of the year and the upward trend that has been in effect since April is also intact.
Good conditions for the rally to continue soon.
In the previous week, the Bitcoin exchange rate reached a new high for the year at 9,008 dollars, but subsequently returned significantly: After falling below the 8,000 dollar mark on Tuesday, he even tested support in the 7,600 dollar range yesterday, Thursday. Since then, however, it has been on the rise again: on Friday, the Bitcoin is already fighting for the 8,000 mark again. For a short time this mark could already be passed in the morning.
- Above it the horizontal resistances in the range of 8,350 Dollar and 8,750 Dollar move into the focus.
- In the further course of the year considers a return into the five-digit range possible.
Altcoins in the upwind
While the Bitcoin is recovering, most of the Altcoins are also making profits again. There is not a single loser in the top 10 by market capitalisation on Friday afternoon. On the news side, the situation is comparatively calm. Only the speculations about the Facebook crypto currency “GlobalCoin” are almost overturning.
Everyone is waiting for the Facebook coin
On Thursday, the tech portal The Information reported that Facebook will officially announce the crypto project this month (more here). CNBC also claims to have learned that about 100 Facebook employees are already working on the project and have posted 40 more jobs.
Bitcoin killer Facebook?
A detailed analysis of the potential and risks for Bitcoin resulting from the introduction of the GlobalCoin can be found in this blog.