Bitcoin is currently looking promising to break back towards five figures, however, one key factor still needs to happen before traders can be confident that the leading cryptocurrency has turned bullish.
January Likely To Be Bitcoin’s Best Month Since June
Should Bitcoin avoid a major price correction over the next 24 hours it will have had the largest monthly increase in market value since the middle of last year. Although the Bitcoin price is notoriously volatile, this increase adds to the growing list of signals suggesting an impending bull run. The only thing standing in Bitcoin’s way of a bullish turn-around is whether or not it can close on the monthly above $9,158.
Analyst Filbfilb made note of this fact in a recent tweet:
Bitcoin closes the Month tomorrow.
A close above $9158 prints a higher high on the monthly close…
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