BTC Price Crosses $9,400 Mark, New Target Set At $9,500

The crypto news today show that there is an upward momentum across the markets as Bitcoin crosses a new mark – this time the $9,400 milestone which was a major psychological point yesterday. Meanwhile, Stellar is taking a shot at the moon triggered by the XLM coin burn which took place a couple of days ago. The BTC price crosses $9,400 and is trading a continued sign of a downward price behaviour in the recent hours.

As the update shows, the world’s largest cryptocurrency traded at an intraday high of around $9,465 before losing its ground towards the current trading price of around $9,311. BTC price crosses the new margin and is now with a 1.11% increase, standing still at $9,409.

According to the popular BTC analyst, statistician and commentator Willy Woo, the bullish action should begin to surface after the dip to $8,600, due to a filling in a gap in futures markets. As Woo said, Bitcoin needs a monthly close above $14,000 in order to then secure a longer term bull market.

“Once we get a monthly close above $14k, we’ll be in the second phase of the bull market; a steady, lowish volatility, run in price. Should happen by the start of 2020, that’s the best time to deploy capital,” he explained.

Perhaps the current price of Bitcoin as the BTC price crosses $9,400 is on the way to take a clue from Stellar (XLM) and its shot to the moon. XLM is currently trading at a price of $0.81 per coin, reporting massive gains and igniting claims that XLM might be able to trigger a new bull cycle.

Meanwhile, the ETH news show that the largest altcoin is sitting at $192 per coin is showing a gain of around 4% at publishing time. XRP, which is the third largest coin by market capitalization is currently trading at $0.302 per coin and is up by 0.76% at press time. As the prices indicate and as the BTC price crosses $9,400, there could be a major surge happening soon.

The overall cryptocurrency market cap is now standing at $254 billion and the 24 hour volume is at a new high of $90 billion. Bitcoin’s dominance is at 66.7% and there are a total of 3083 cryptocurrencies on the market.