Bitcoin Price Tackles $9.5K as Analysts Spot Potential Breakout Signal

Bitcoin Price Tackles $9.5K as Analysts Spot Potential Breakout Signal

price (BTC) was challenging $9,500 on Oct. 29 as the largest cryptocurrency preserved its higher levels after a bullish breakout over the weekend.

Cryptocurrency market daily overview. Source: Coin360
Analyst: suggests further upside on the cards
Data from Coin360 showed BTC/USD repeatedly attempt a fresh push past $9,500 on Tuesday. The level seemed difficult to crack, however, with each break towards $9,600 met with rejection. 
At press time, was circling $9,430, volatility remaining after a sudden drop to $9,200 earlier in the day. 

seven-day price chart. Source: Coin360
Rumors around China’s public commitment to blockchain technology continued to form a major talking point among analysts. As Cointelegraph reported, cryptocurrency policy did not feature in officials’ latest remarks, which nonetheless appeared to fuel ’s surge. 
On social media, commentators were still eyeing further upside potential. 
“# keeps pushing for a breakout,” popular account Crypto Rand summarized in a Twitter update on Tuesday.
“After the last few months of events, I’d feel more comfortable with only in my portfolio than none at all,” fellow account Rhythm added about Bitcoin’s longer-term prospects.
Other developments focused on the consumer side. Bakkt, the institutional trading platform which saw all-time highs for its futures in recent days, said its consumer app and Starbucks payment partnership would be live in H1 2020.
Altcoins spend a day tracking sideways
Altcoin markets meanwhile posted a day of flat trading, mimicking ’s daily performance with 1-2% moves up or down. 
Ether (ETH), the largest altcoin by market cap, was up 1.4% at $187. 

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Ether 7-day price chart. Source: Coin360
The leader in the top ten was Cash (BCH), which advanced 10% amid turmoil at major backer Bitmain. As Cointelegraph noted, a sudden reshuffle saw co-founder Micree Ketuan Zhan ousted. 
The overall cryptocurrency market cap advanced slightly on the day, reaching $251 billion. Bitcoin’s share fell slightly to 67.7%.
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