Bitcoin overcame $ 8500 milestone, analysts expect rate increase to $ 9000

After a pullback last weekend on January 25 and 26, Bitcoin was able to consolidate and overcome the psychologicalmilestone of $ 8500. On Monday, January 27, the BTC rate rose to $ 8,668, the market capitalization of the first cryptocurrency now stands at just over $ 157 billion.

The fall was observed until January 25, preceding the new year according to the lunar calendar. These days, many Asian investors have cashed out their investments to buy gifts for loved ones.

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Bitcoin dropped to its minimum value inFriday January 24th (below $ 8,200). Then his slow ascent began. This week, a sharp increase in volatility is expected, since the contract expires on January 31 for Bitcoin futures contracts on the CME platform.

Analyst Joel believes that the month will end with a new stage in strengthening BTC. The rally will most likely be short-term, and it will result in taking the $ 9,000 mark.

Other famous experts Peter Brandt and MatiGreenspan is also optimistic. They believe that the pullback to $8,200 was necessary for the coin as it accelerated its consolidation. Now we will witness another breakthrough of the first cryptocurrency.

$ BTC
CME Monthly Close is on Jan 31

-71% of weeks approaching the close are negative.
-71% of Thursdays before the close are negative
-67% of closing days (Friday) are positive (71% if the week is negative, 82% if the day before is negative).

Volatility also tends to increase. pic.twitter.com/wilH0ljNLm

- Joel (@JofDom) January 26, 2020

Beautiful bounce off interim support at $ 8200. ??? pic.twitter.com/KE9KOUwgl6

- Mati Greenspan [tweets are not trading advice] (@MatiGreenspan) January 24, 2020

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