Bitcoin Price Hits 10,000 Level, Overall Market in Green Zone

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Jeff Fawkes
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Many of the cryptocurrency critics are waiting for the market crash soon after the Bitcoin Halving in May 2020. Some of them waiting for the crash even before the Halving. However, Bitcoin‘s price keeps rising, crossing the 10K milestone with ease.

While the Bitcoin Core repository on GitHub receives no major updates this Winter, this price action is a big success.

All the cryptocurrency market is going green in recent days, with BSV as the unstoppable leader of today’s charts. Bitcoin Cash was worth around $200 a week ago, now it’s more than $450 per coin. If you don’t like to make bets on BCH price, Ethereum is another good choice.

During the last seven days, ETH has gained 25% in its price, now it costs $228. XRP has reached its next micro-target, rising from $0.23 to $0.28 per token in one day. Litecoin and Binance Coin gained 6 and 8% in price respectively.

Proof of Stake coins like Tezos and EOS achieve an 8 to 9% blast in value too. All despite having no direct connections to the PoW coins and mining industry. 

BitMEX CEO Artur Hayes tweets that “slow and steady wins the race”. He seems to be sure that the next milestone for Bitcoin is $20,000:

Nothing can stop me, I’m all the way up! Slow and steady wins the race. Let’s take the staircase up to #bitcoin $20k. pic.twitter.com/n90QN0vZ7k

— Arthur Hayes (@CryptoHayes) February 9, 2020

Bitcoin SV Gains Steam Amid Coinbase Rumors

Thanks to wise Twitter users crypto community is sure that Coinbase is going to add BSV trading.

Is coinbase getting ready to list BSV?

Coinbase page for BSV now shows a buy button (disappears when you log in)

Wayback machine backup of the same page from Dec 16th had no buy button. #WeChooseSV pic.twitter.com/8vpCqIcqvc

— $Spartan (@SpartanPrairie) February 8, 2020

The screenshots clearly show that Coinbase is silently preparing BSV support, and that could also contribute greatly to the coin’s price rise.

The whole markets seem to follow Bitcoin’s price rise trend, and such a situation is not something unusual.

The only tricky situation you should be aware of – is when the mempool of Bitcoin gets more than 20,000 of unconfirmed transactions. This quite usually happens when BTC price starts heading to 13-14K levels. As soon as the network processes transactions in a slow manner, people may stop using it. This collective action might result in unexpected price rollback. 

Author: Jeff Fawkes

Jeff Fawkes is a seasoned investment professional and a crypto analyst covering the blockchain space. He has a dual degree in Business Administration and Creative Writing and is passionate when it comes to how technology impacts our society.

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