Bitcoin closed with $ 13,816 in its upward trend throughout the month. This level was an unprecedented monthly closing level for Bitcoin since December 2017.
Bitcoin closed at $ 13,816 in its upward trend throughout the month, making it the second highest monthly closing in its history.
The largest cryptocurrency by market capitalization started October with 10,780 dollars, and with a series of positive news, the price increased to $ 14,100. In October, the major payment company Square announced that it had purchased $ 50 million of Bitcoin, and this development had a great impact in mainstream media. The price, which gained momentum with Square’s Bitcoin purchase, continued to climb after PayPal announced that it would launch its cryptocurrency trading service.
Bitcoin had its highest monthly closing in December after a record price level of $ 20,000. Crypto money closed that month with 13,880 dollars.
The price should hold above $ 14k
For the continuation of the upward movement in Bitcoin, the price must first hold above $ 14,000. Speaking to Bloomberg, Oanda’s senior market analyst Edward Moya underlined that the $ 14,000 level is an important threshold. Moya thinks that if this number is exceeded, a much stronger rise can come.
Bitcoin is being traded on the crypto money exchange Bitstamp at $ 13,889 as of 03.10 TSI.