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Weekend Trading has Produced Classic Volatility Pushing Bitcoin Price over $25k

0 Million BTC Longs Liquidated on BitMEX with Price Drop

It was for the first time in months that the trading price of Bitcoin was able to through the $25,000 barrier. The price graph shows Bitcoin’s value rose above the particular level on August 14.

Bitcoin Price Crossed $25,000 since June 

On August 14, the Bitcoin (BTC) community was surprised and filled with joy to witness a critical surge in the trading price of Bitcoin.

The trading price of Bitcoin managed to rise over the $25,000 barrier for the first time since June 13. However, the investors were not fully confident in keeping the price of Bitcoin over the $25k barrier.

Investors Panicked Crossing $25k 

Just as the trading price of Bitcoin managed to cross the $25k mark, the investors feared a possible downtrend.

The fear of the investors is justified because Bitcoin has surged over the $25k mark after a long time. Therefore, the investors were not as confident as they were buying Bitcoin when it had crossed the $23k or $24k mark.

The investors were afraid that the trading price of Bitcoin may end up experiencing a downtrend. The investors expected that it could be a bull trap where the major investors and bulls may start selling Bitcoin just when its price crossed the mark.

Therefore, not much support was provided to Bitcoin over the $25k level. As a result, the investors supporting the bullish run were not able to keep up with the selling pressure of the bears.

The price of Bitcoin ended up losing its position over the $25k mark.

Weekend Helped Push Bitcoin over $25k 

Throughout the past week, the trading price of Bitcoin had continued hovering around the $24.5k mark. However, the investors were afraid of pushing the price of Bitcoin close to the $25k mark.

As the week came to a close, the investors increased their buying power and mustered enough confidence to launch a strong buying attack. This helped push the trading price of Bitcoin over $25k.

Although the leap was brief, still, it was enough to build strong sentiments and confidence among many investors.

The TradingView data shows that Bitcoin’s trading price had risen to $25,050 on August 14.

The jump recorded by Bitcoin on the day ended up getting rid of the losses it had incurred on a particular day.

Analysts Side with $25,400-$25,500 Range 

According to the analysts, they are hoping that the trading price of Bitcoin may experience yet another rally.

If a rally is formed, then the trading price of Bitcoin may start traveling between the $25,400, and $25,500 range.

However, to achieve this goal, the investors will need to ensure they are able to sustain bear pressure and not lose the $24k level.

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