Flash crash denied: 'BTC at $9,600 could be in the cards', says analyst

20 May, 2019
by Joeri Cant
Bitcoin
Flash crash denied: 'BTC at $9,600 could be in the cards', says analyst

Nobody expected the world's number one cryptocurrency to bounce back this quickly, as Bitcoin denied the flash crash and showed a confident bounce back to the $8,100 price level in less than two days.

Bitcoin has entered once again the $8,000 region, and is continuing to show an impressive gain of 10.77% on the day, while currently trading at around $8,100.

The world's most popular cryptocurrency has decisively denied the much-predicted pullback.

BTC/USD Chart provided by Tradingview

Many crypto analysts and traders are now expecting this rally to continue.

Dan Held, the co-founder of Interchange, for example, pointed out on Twitter that the market bounced back quickly from the latest fierce dip.

Crypto trader & investor, Josh Rager adds that the recent spike of the crypto market brings Bitcoin closer to $8,216, which, according to Rager, is a key short-term.

Rager believes that if Bitcoin manages to close its weekly candle above that level, a move to $9,600 could be in the cards

Do you think Bitcoin will see $9,600 next? let us know in the poll below.

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Read more about: Bitcoin (BTC)

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