The post Why Is Bitcoin Going Up? How High Can Bitcoin Go? appeared first on Coinpedia Fintech News
Bitcoin has finally crossed $100,000. Adding 7% in the last three days and 4% today, BTC peaked at $104,630 before retracing back to $101,132. This gives the crypto community new hope that the bull cycle is still on.
Let’s analyse what is happening in the market and why is Bitcoin going up today.
Bitcoin Hit $100K
The $100k mark has been a very heavy psychological resistance for Bitcoin, which it passed this morning. As we talked about how new buying can support the price and raise it, we saw huge volume coming in to push the price up.
The Fear and Greed index was recorded at 84 this morning, displaying that the market still has potential for buying. The biggest crypto needs to cement the support as there is no moving average present in this area for assistance.
How High Can Bitcoin Go?
The RSI is currently at 76.41 showing bulls are charging, however it will soon ente
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