Bitcoin is set to have a golden crossover as recent charts suggest that the cryptocurrency is set for a pump. Over the last few weeks, the bitcoin-U.S. dollar (BTC/USD) exchange rate was facing halts. On Monday the currency came to a halt at $4,470. However, if experts are to be believed, the cryptocurrency is looking to soar soon and move out of the weak hands in the market.
Bitcoin had retreated to $4,255 over the last few days. This indicated that the investors may be falling short on financial resources. However, the price value of the cryptocurrency was spooked by minor changes in the value. Amidst speculations that the currency might be facing a downfall, the investors now believe that it was just a minor glitch. Many had placed their bets but now this has lost the steam.
The overall outlook of Bitcoin remains positive and quite constructive. Investors are seeing no signs of pressure and stress on the cryptocurrency. Technical charts and data indicate that Bitcoin is still the number one cryptocurrency. Bitcoin has passed the fiery test of regulatory laws in China and South Korea. After facing the heat in Asia, the digital currency is now ready to take on the world.
Recent price analysis shows that the digital currency has all positive signs. The digital asset is all set to make a massive jump. The cryptocurrency will overcome the drawbacks it has faced over the last 50 days in a very convincing manner in the coming weeks. As per the latest reports, the cryptocurrency is trading at $4,290. This value is down by 2.85 percent as compared to the last 24 hours. Looking at the weekly comparison from last year, the BTC has risen by 11.54 percent but the monthly comparison with last month still lingers at a loss of 7 percent loss. However, the overall outlook of BTC price remains positive and constructive. The price is looking to open on the higher side with $4,700. The average for 10 days is also on the rise with not many significant pullbacks appearing soon.