Bitcoin price above $10,000 again – but the gains may be short-lived

During the night to Thursday (CEST), the bitcoin price gained new momentum and climbed over $10,000 for the first time in several days.

The price soared by over 6.5 percent in a short time – from about $9,550 to $10,187, according to numbers from Bitstamp.

This is the third time in a month that the bitcoin price has bounced back over $10,000.

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The gains may be short-lived

The question now is whether the bitcoin price is on the rise or whether it will continue down. According to a technical analysis from Coindesk, the latest gains may be short-lived.

The reason is said to be that the trading volume is low and that the bitcoin price is stuck at key resistance levels.

The price must rise above $11,120 in order to revive the positive sentiment in the markets. But then the price has to break through the resistance level of $10,200 with the help of high trading volumes, Coindesk writes.

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