BTC/USD pushes higher

The main crypto currency Bitcoin (BTC) is pushing higher from it’s low and is supported by SMA 100 (orange line in the graph below) for a continued path up.

On the upside, we will need to see a sustainable move above $9,800 with the intraday high located just above this handle. Once above, the price of the first digital coin will proceed to critical $10,000 strengthened by SMA100 4-hour.

In May 2020 it’s time for the next halving of Bitcoin where the mining reward will drop from 12.5 BTC to 6.25 BTC, this will reduce the increase in supply of Bitcoins and also lead to an price increase. Joe Kernen believes that this and other things may lead to a Bitcoin price of $55,000 at that time.

Earlier we’ve seen predictions of about $40,000 per Bitcoin and also McAfee’s prediction that Bitcoin will reach $250,000 some time during 2020.

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