Is Bitcoin Going To Trade At $9,000 Today?

The Bitcoin news now show that the yearly average for the BTC/USD trading pair is circling around $9,000 for the second time in history amid this bullish sentiment. Many people are asking and Googling “is Bitcoin going to trade at $9,000 today” in hopes of new gains. However, the news show that the dominant coin is trading above $8,850 and has never been closer to the $9,000 mark.

Bitcoin (BTC) may have reversed all of the price losses since the flash crash in March, but we can see that another price indicator is about to make a new all-time high. As noted by one analyst at the investment advisor ARK named Yassine Elmandjra, the dominant coin is about to set a record high for its yearly moving average price.

Bitcoin’s yearly moving average price is about to break an all time high. pic.twitter.com/BjgdPZ8mm4

— Yassine Elmandjra (@yassineARK) May 1, 2020

As a tweet on May 1st by the analyst shows, there is a chart confirming an upward trend. But is Bitcoin going to trade at $9,000 today?

We can see that late 2018 was the true bottom for BTC when the BTC/USD pair traded at around $3,100 in the crypto news. Now, we can see a slow grind up through 2019 which culminated in a new landmark moment which will hit if markets retain their current levels.

Therefore, the yearly moving average price of BTC is at around $9,000 for only the second time in its history. Elmandjra drew attention from the Morgan Creek Digital co-founder Anthony Pompliano and “The Bitcoin Standard” author Saifedean Ammous with these findings.

The cryptocurrency news also show that despite the continued solid performance, not everyone is bullish on Bitcoin and believes that the price behavior is relevant when it comes to deciding whether or not to purchase the cryptocurrency.

The Morgan Creek Digital’s CEO, Mark Yusko, argued that selling Bitcoin was not something that anyone should ever consider. He said that all of the indicators are rising, but “the price of any asset fluctuates.”

However, according to Yusko, the Bitcoin price is going to double down in the future. As he wrote on Twitter this week:

Always pays to #BuyWhatIsOnSale

Daily price of #Bitcoin is Noise, focus on Signal of increasing adoption and positive fundamentals https://t.co/hYpp8xD7ah

— Mark W. Yusko (@MarkYusko) May 1, 2020

Is Bitcoin going to claim $9,000 today?

The best way to know is by reading our Bitcoin news and staying in close contact with the charts!