Bitcoin (very briefly) above $9k - the community reacts

30 May, 2019 | Updated: 30 May, 2019
by David Robb
Bitcoin
Bitcoin (very briefly) above $9k - the community reacts

Within the last half an hour or so, BTC surged past the $9000 level, before being rejected and falling back just as quickly. Many observers on crypto Twitter were on hand to give their take on this emotional rollercoaster.

The last time Bitcoin (BTC) was trading above $9000 was at the start of May 2018, on the way back down from February's 'dead cat bounce' that followed the plummet from the all-time high price of December 2017.

Although it's not as important as some technical resistances that BTC has broken through recently, the $9000 level is an important psychological barrier. Also, many traders see very little obstacles in the way to $10k, at which point it will be tough to deny the start of a new bull market and perhaps a run to a new ATH.

The break past $9k had many members of the community getting excited, and they seem to be coping with the subsequent plunge relatively well, as anyone surprised by price volatility at this point must have been living under a rock. Others pointed out that the pullback was to be expected, with many sell orders probably placed at $9000, and BTC whales possibly trying to shake out some short-term traders. 

Litecoin founder, Charlie Lee, took a tweet from the past, to welcome BTC to the $9,000 price mark (again).

Crypto Trader at Texas Westcapital, 'The Wolf Of All Streets', took the funny approach.

Although a dump followed quickly, it is yet another important 2019 milestone for the world's most popular cryptocurrency.

As crypto trader, RhythmTrader, points out, Bitcoin's fundamentals are now at a whole other level and much stronger today than they were the last time BTC traded at $9,000.

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Read more about: Bitcoin (BTC)

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