The value fluctuated between US$7,400 and US$9,000 last week, as enthusiasts speculate more catalysts that could drive prices up.

With Bitcoin's price consolidation following last month's bold rebound, technical indicators show that its next significant move could be upwards. The difference between the upper and lower Bitcoin bands has been at its narrowest since late April, according to <a href="https://commodity.com/technical-analysis/moving-average-envelopes/">Envelope Indicator</a>, a technical tool that softens moving averages to represent the highest and lowest limits.

<strong>Although Bitcoin is operating near its lower band, it has not yet broken it, indicating a potential rebound on the horizon.</strong>

<a href="https://www.cryptoknowmics.com/crypto/bitcoin-on-chain-metrics-that-every-trader-should-know/">Bitcoin</a> experienced a similar reduction in the gap before its massive May rally when it gained more than 62% in one month. However, a drop below the lower limit would be a selling signal.

Bitcoin's price has been fluctuating between US$7,400 and US$9,000 over the past week, as enthusiasts speculate more catalysts that could drive prices up. Facebook Inc., for example, will publish a report on the basics of its future cryptocurrency in the coming weeks, according to <a href="https://www.cryptoknowmics.com/crypto/major-crypto-brokerage-coinmama-reports-450000-users-affected-by-data-breach/">reports</a>. "That could be the biggest motivation in the short term," <a href="https://cryptooracle.io/">CryptoOracle</a> partner Lou Kerner said by e-mail. "

<strong>Anything that can stimulate widespread adoption of cryptocurrency is believed to be highly favorable for Bitcoin.</strong>

The anticipation of greater acceptance of cryptocurrency has also encouraged many analysts to raise their price targets for Bitcoin. Bitcoin prices fluctuated 7.5%, trading between US$7,511 and US$8,077. It is now 59% below the US$19,511 peak reached on December 18, 2017. Bitcoin has lost 7.2% in the last week and has increased 116% so far this year.

Bitcoin maintains its price, while specialists predict a possible upturn

Alejandro is a big time crypto enthusiast. He spends most of his day either writing about news and innovation about cryptocurrencies or finding the new hidden gem to add to his portfolio.

Bitcoin maintains its price, while specialists predict a possible upturn

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