Bitcoin (BTC) briefly hit $10,000 on February. ix, capping a momentous outset month of 2020 to achieve its highest level since Oct terminal year.

BTC seals $10K after three months

Crypto market weekly price chart. Source: Coin360

Crypto marketplace weekly price chart. Source: Coin360

Data from Coinbase exchange and Cointelegraph Markets showed that shortly after 3:00 a.chiliad. UTC BTC/USD moved to $10,000 on a high volume fasten but the digital asset quickly pulled back to $9,975. The feat of reclaiming 5 figures occurred later a nearly four-month absence.

During that fourth dimension, the pair traded as low as $6,400 before an abrupt bullish turnaround saw January alone deliver gains of 35%.

The motility to the symbolic $10,000 level was preceded by Bitcoin futures markets, which briefly entered the zone on Feb. half dozen.

Traders had been primed to expect a strong directional move, with Cointelegraph Markets analyst filbfilb identifying $9,550 as likely back up.

Fellow analyst Mati Greenspan added:

"This isn't the starting time fourth dimension bitcoin has been valued above $10,000 and it might not exist the last, but it is the first time that the valuation is justifiable based on fundamentals of the network."

Bitcoin weekly price chart. Source: Coin360

Bitcoin weekly toll chart. Source: Coin360

Altcoins mixed afterwards previous gains

Currently, the overall cryptocurrency marketplace cap now stands at $283.ix billion, with Bitcoin'due south say-so rate is 63.5%. A handful of major altcoins mirrored Bitcoin's success, with Ether (ETH) rising 2.27% to pass $225, EOS rallying viii.27% and Bitcoin SV (BSV) reaching $365.14 on the back of a 24.24% daily gain.

Before in the week, many tokens repeatedly put in a solid performance for investors, with daily gains for some topping 25%.

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