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26 September 2020

Market Wrap: Bullish Traders Push Bitcoin Over $9,100, Returning to Halving Levels - CoinDesk

Market Wrap: Bullish Traders Push Bitcoin Over $9,100, Returning to Halving Levels - CoinDesk


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Market Wrap: Bullish Traders Push Bitcoin Over $9,100, Returning to Halving Levels.

ET), bitcoin was trading at $9,162, gaining 3.5% over the previous 24 hours.

Trading seems to support a higher upward climb as bitcoin’s price is now above its 10-day and 50-day moving averages, a signal of bullish sentiment.

During that recent halving miners’ rewards for successfully adding a block to the Bitcoin blockchain were cut 50% from 12.5 to 6.25 BTC. .

“We could be in for a correction in the short term before perhaps a bounce taking bitcoin to a new high in 2021,” Le Rest said. .

Meanwhile, the bitcoin options market has an event coming up this week, Singapore-based trading firm QCP Capital wrote in a recent market update.

In fact, bitcoin’s at-the-money implied volatility, a measure of price movements, has dipped recently, according to data from aggregator Skew.

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