Week in review: September 9 2022 – Will Bitcoin stay above the $20k level?

Written by Robby Ramos
on September 12, 2022
Week in review: September 9 2022 - Will Bitcoin stay above the $20k level?

In this week’s newsletter:

Read our weekly round up below.

Why crypto-security matters!

When investing in cryptocurrency, you need to ensure that the platform where you trade crypto is invested in the security of your assets as this will give you peace of mind and allow you to trade more confidently.

When browsing platforms, keep an eye out for companies with cyber security expertise, use trusted third-party security systems, and offer cold storage options.

You can visit ALT5.com to learn more about how we implement our security measures because we care about your investments.

Crypto News From Around The World

Bitcoin Tops Psychological $20,000 Level in ‘Bearish Rally’ as U.S. Dollar Falls

CNBCSeptember 9, 2022
Bitcoin surged on Friday breaking back above the $20,000 mark as the U.S. dollar weakened and stocks jumped. The world’s largest cryptocurrency was last trading 8.7% higher at $20,974.00, after falling to its lowest level since mid-June earlier in the week. Bitcoin briefly jumped above $21,000 earlier in the day. Other digital coins were higher including ether which was up around 4%. The total cryptocurrency market value jumped back above $1 trillion again.

Bitcoin Reclaims Key $20,000 Mark Amid Crypto Market Rebound

Decrypt | September 9, 2022
Today’s breakout, however, pushed the price of Bitcoin to $20,808 by press time, a level not seen since August 26, according to data from CoinMarketCap. The bullish price action also helped to propel the cumulative market capitalization of all cryptocurrencies back above the $1 trillion mark, with Bitcoin currently dominating 38.5% of the market.

Bitcoin, Ethereum Technical Analysis: BTC Beyond $21,000, ETH Above $1,700 as Powell Remains Hawkish

Bitcoin (BTC) rose rapidly during today’s session, as markets responded to bullish comments from Jerome Powell. Speaking on Thursday, the Fed Chair hinted at further rate hikes, stating that, “My colleagues and I are strongly committed to this project and we will keep at it until the job is done.”

Ethereum (ETH) In addition to bitcoin, the world’s second largest cryptocurrency, ethereum (ETH), also surged on Friday following Powell’s comments.. ETH/USD raced to a high of $1,711.84 earlier today, which comes as the token moved past a key resistance point.

Ethereum Merge is 34k Blocks Away, Expected To Happen Sept. 14

CryptoSlate | September 9 , 2022
The highly anticipated Ethereum (ETH) Merge is set to happen on Sept. 14 by 9 p.m. UTC, according to the Ultrasound Money tracker. The tracker estimated that the highly anticipated merge is 34,000 blocks away. The merge is set to happen at a terminal total difficulty level of 58,750,000,000T, while the latest block difficulty stands at 12,345T.

Robby Ramos

Robby Ramos

Director of Digital Marketing | Bridging the gap between digital assets and financial institutions.