The week has been rocky for Bitcoin investors. It began positively, seeing prices shoot to a high of $,10,700, this was followed by a plunge mid-week. A catastrophic sell-off saw prices plummet on Wednesday reaching a bottom of $9,800.
This bear market was however short-lived as the digital asset was knocking at the $10K position by the end of the day. By early Thursday, Bitcoin was flirting with $10K as the bears and bulls tussled for control.
At the time of press, the winners couldn’t be clearer. The market has once again turned green with a majority of top coins recording gains. Bitcoin has in the last couple of hours climbed from just under $10K and is now exchanging for $10,187. The asset is now poised to test the $10,200 resistance in the next couple of hours before testing the more resilient $10,400 resistance.
Best Performing Cryptocurrencies
Other cryptocurrencies that have followed the set bullish trend by Bitcoin include Ethereum which has soared by nearly 4% in the last couple of hours. This sees the asset climb back above $190 and sentiments turn bullish approaching the $200 mark.
XRP has also enjoyed a 4% surge in the last couple of hours. This sees it climb above $0.27. Among the highly performing altcoins include Litecoin, EOS, and Cardano which are unmatched in the top 20 coins. Cardano (ADA) has surged by more than 7% at the time of press.
John McAfee: Short Term Fluctuations Are Meaningless
Just hours before the market turned green, John McAfee had taken to Twitter to reassure investors. Addressing investors who he said were flooding his inbox, the long term Bitcoin bull asked investors to stop panicking. He reminded them that Bitcoin was still up by more than 300% from 6 months ago.
In a tweet he explained:
Bitcoin jitters? Just stop it! Short term fluctuations are meaningless. Bitcoin is still up almost 300% from 6 months ago. Everytime there’s a dip I have to calm people in replies, DMs, etc. GET A GRIP! You know in your heart Bitcoin cannot lose.
The surge from the last couple of hours puts the market and Bitcoin, in particular, back on track to end the week strong as the bulls look to set a new week high.