Bitcoin is stuck in a narrow range currently, but a breakout may lie ahead, the price charts indicate. Prices rallied to a high of $13,000 on Saturday, but the spike was short-lived as prices fell back to $11,096 at 20:59 UTC yesterday.
As of writing, BPI stands at $11,700 – up 5.4 percent from yesterday's low. Still, the cryptocurrency is down 1 percent on a 24-hour basis, as per data source OnChainFX.
Interestingly, some in the investor community feel the U.S. government shutdown may have influenced the rise in BTC prices over the weekend. However, if history is any guide, BTC is unlikely to rally significantly on the political standoff in Washington.
For instance, during the last standoff (Oct. 1–17, 2013), BTC appreciated by 10 percent (not a huge move by BTC's standards), as data from CoinMarketCap shows. Further, prices were largely range-bound in the run-up to the deadlock and began rising sharply after it ended.
That possibility aside, the price chart analysis indicates scope for a rally to $15,000 and above – if the narrow range ($11,000 to $13,000) ends with an upside break.
Please Upvote and support our work)
P.S. Next links its referral programs, so if you , by clicking on it, will make order of Ledger or Trade on Binance , our team will make some $ , and this money we will spend to improve our content and make posting more often)
Subscribe to be in touch: @cryptocoingalaxy
Best Cold Storage for Bitcoin and Altcoins «Ledger Nano S» - https://www.ledgerwallet.com/r/b0ad
Buy and Trade Bitcoin and Altcoins. Top 1 Exchange! - https://www.binance.com/?ref=16702916
Here you can buy almost all Altcoins, one of the best Exchanges: https://www.kucoin.com/#/?r=7Jhxgr
Hello friend, Despite the tightness of the currency of the Betquin, because of the correction, is expected to rise high in the coming months.thanks 👍👍
Nice post,Hello friend,one of steemit member flagged me without any reason and due to it my reputation is dropped.
Please upvote my posts as you can to regain my reputation.I had also upvoted and followed you.
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://sg.finance.yahoo.com/news/bitcoin-defends-11-000-mark-121027708.html