Markets Update: Bitcoin’s Price Back in the 4-Digit Territory

[jamie.redman1]

Last week the price of bitcoin was trending downwards as bears controlled the market, pulling the price down to a low of US$920 per BTC on March 25. Currently, bitcoin’s value is once again ascending upwards over the past 24-hours reaching a high of $1068.

Bitcoin markets have been interesting to watch this week as technical indicators had shown much of the week was a seller’s market. The volatile price of bitcoin during the seven days dropped to a significant low breaking the psychological four digit price point. However, the downturn didn’t last long as another upward trend took bitcoin back above the $1,000 range on March 27. At the moment bulls seem to have found new entry points as buyers appear to be breaking resistance towards the $1,100 mark.

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