Bitcoin Was the Second Most-Viewed Asset on TradingView in July – It Now Appears to Pass the $12,000 Line
Bitcoin was the second-most viewed asset on the popular TradingView website after Tesla stock last month. The charting platform showed the data point on Friday, saying that Tesla was the most-viewed stock in a total of 31 U.S. states, but Bitcoin was mainly popular in California, Washington, and Oregon states.
“The west coast loves crypto the most,” said TradingView.
Both Bitcoin and Tesla stocks have grown in price in 2020. Tesla has almost tripled from about $430 in January to around $1,650 at the moment. In the meantime, Bitcoin is up 60 percent year-to-date.
Boeing stock followed Tesla and Bitcoin by becoming the third most-viewed asset on the platform, and American Airlines placed tenth.
“It’s clear that the global pandemic brought increased volatility to the airlines sector, and with that came additional interest from traders and investors,” said TradingView.
Has Bitcoin Broke Out of its Range?
Bitcoin prices rallied this morning, passing over $12,000 and hitting their highest value since late last summer. The king coin reached $12,198 around 10 a.m. EDT after fluctuating in the last few weeks, mainly between $11,000 and $12,000, as CoinDesk figures show.
While Bitcoin manages to attain a higher price than $12,000 today, we require more data before concluding that the cryptocurrency successfully broke out of its previous range, analysts have explained.
“Testing above the $12,000 psychological level is great, but we need a confirmation above this level to strengthen our short-term bullish viewpoint,” said Kiana Danial, CEO of Invest Diva.
“A confirmation above $12,000 means if BTC/USD can open above this level the next day,” she added. “If that doesn’t happen immediately, we could expect more fluctuations before Bitcoin reaches the next resistance level of $13,234.”
Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, also considered the situation: “Bitcoin needs to stay above $12k and consolidate in a manner where it tests the level for support a few times before we can conclude if the breakout is reliable,” he stated.
If Bitcoin will reach $20,000, as Danial believes, it would trade closer to the unprecedented highs it reached in late 2017 and early 2018.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.