September 9 has proven to be a much more significant day for the Bitcoin (BTC) bulls. On that particular day, the trading price of Bitcoin experienced a significant jump and it is still holding a strong and promising position above the $20k level.
Bitcoin Price Jumped over $20k
As trading began for Bitcoin on September 9, its value in the mark was below $20,000. The overall market sentiments were negative and this is when the data surrounding the USD came out that was negative.
As the trading value of the USD dipped, the value of Bitcoin started recording a significant rise. As the trading session progressed on the same day, Bitcoin’s trading price started to record an elevation.
This was a promising sight for the investors as they were finally seeing a jump in the trading price of Bitcoin. The trading price of Bitcoin started to record a rebound.
Before the session ended, the trading value of Bitcoin had crossed the $20,000 mark.
Bitcoin May Rise Over $25,000
The data from TradingView shows that the trading price of Bitcoin recorded a significant surge on September 9. Its price was pushed up by 8.7% in the particular trading session and it recorded a jump of $2,700.
This was the highest price rise and surge Bitcoin had witnessed since August 26, 2022.
For a long time, the market trend for Bitcoin has remained mainly bearish. The trading price of Bitcoin continued moving in a downward direction, which was not a good sign for the bulls.
However, the fluctuation finally ended for Bitcoin and it started to elevate higher. This meant that finally, the bulls were to gain what they had wanted for a long time.
At the time of writing, the trading price of Bitcoin is over $21,564.65 and it is eyeing a $25,000 mark.
Relief Level for Bitcoin
Multiple professional and individual analysts had predicted that if Bitcoin wants to find relief, then it has to hit at least a low trading price of $23,000.
Michael van de Poppe, one of the major crypto analysts, and Eight’s CEO suggested the same range for Bitcoin.
As per Michael, the next target for Bitcoin would be hitting a high range between $23k and $25k.
$25k is Possible for Bitcoin
With the trading value of the US dollar recording a significant dip as recorded in the DXY, the value of Bitcoin may continue rising.
In recent days, the bulls have gained enough confidence to carry on with their acquisitions. If the trend continues, then the trading price of Bitcoin may rise over $25,000.