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Bitcoin (BTC) Price Gains to Approach $11K

Analyst Team trader
Updated 1 Oct 2020

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Bitcoin (BTC/USD) price is trading around 1% higher today as the buyers puh the price movements towards the $11,000 handle. The world’s largest digital coin was buoyed by recent comments from Jack Dorsey, the CEO of Twitter and co-founder of Square.

Dorsey recently noted the future of the social media platform will be highly impacted by Bitcoin and its underlying blockchain technology.

“A lot of our value in the past was around content hosting. So we would host the tweets, the images, and videos,” Dorsey said at the virtual Oslo Freedom Forum 2020.

Blockchain and bitcoin point to a future, and point to a world, where content exists forever, where it's permanent, where it doesn't go away, where it exists forever on every single node that's connected to it”.

Bitcoin price is now approaching the area around $11k, where a major short-term resistance line sits. A break of this resistance block should open the door for a push towards $12,000.

Bitcoin price trades higher today October 2020


The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.