Bitcoin Breaks $8,000 and Traders Prepare for an Extended Rally

Bitcoin Breaks $8,000 and Traders Prepare for an Extended Rally

On Tuesday Bitcoin finally pushed passed $8,000 for the first time since May and traders are now expecting to see Bitcoin climb even further. Also, most of the market seems to have turned bullish and Bitcoin is not alone in the rally.

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  • Bitcoin has not been selling for over $8,000 since May

  • Most of the market is currently trading in the green, and according to several experts, we can expect to see a lot more growth in the next few days and even weeks.

  • Want to invest in cryptocurrencies? Read through the article for our best investment tips.

Bitcoin has pushed past $8,000, and even though BTC is leading the rally, the market is looking more bullish than it has in a long time with most altcoins gaining several percent in the last 24 hours.

Professional traders and cryptocurrency analysts are claiming that this is only the beginning of a longer rally and we should expect to see Bitcoin and other assets climb even further.

Most experts are agreeing that there are two reasons why the price of Bitcoin will continue to appreciate. The first reason is that Bitcoin ETFs will become a reality, all we’re waiting for is an SEC approval, and that will help increase the interest in the digital asset. Secondly, more and more institutions are starting to show an interest in cryptocurrencies and the underlying assets which will also help push the prices.

Looking to invest in cryptocurrencies?

If it’s true that Bitcoin’s extended bear market has turned, it would be the right time to start investing in cryptocurrencies, and if you’re not sure of where to start, we can help point you in the right direction.

In our opinion, you have two options. You can either use a cryptocurrency exchange or a wallet to buy your actual cryptocurrencies or you can speculate on the prices using CFDs. Below are some of the services we recommend.

Cryptocurrency Exchanges and Wallets

  • Coinbase is the most popular wallet for beginners, and they also have an exchange called Coinbase Pro (previously known as GDAX).
  • Hodly is a brand new cryptocurrency wallet and exchange developed by IQ Option, and it’s currently one of our favorite options. See our Hodly review here!

Cryptocurrency Brokers

  • eToro offers a great cryptocurrency product that allows you to copy other successful cryptocurrency traders. Read more about their product in our eToro review.
  • Plus500 has developed one of the top cryptocurrency products on the market right now. Sign up for a Plu500 demo account to try it out.
  • 24Option is currently one of the best CFD brokers for traders looking to invest in cryptocurrencies. Learn more about the broker in our 24Option review.
  • Libertex is an excellent CFD and forex broker that has one of the largest selections of cryptocurrency products on the market. Here is our Libertex review!

Find the best trading platform. You capital is at risk when trading. Be careful.

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