Bitcoin price analysis: BTC jumping on Monday with hash rate reaching all-time high

Bitcoin price on Monday is trading within the green, gains of some 3.5%.
BTC/USD bulls will be eyeing a retest of the high area seen in June, ahead of $15,000 barrier.

Ken Chigbo Independent Analyst

The Bitcoin price on Monday is holding decent gains of some 3.5% in the second half of the session. BTC/USD bulls are trying to once again breakdown the $12,000 price area, which has previously caused some problems.

Recently the Bitcoin (BTC) hash rate reached a new all-time high on 7 july, according to data from monitoring resource Blockchain.com on July 7.

Should the bulls manage to once again breakdown the $12,000 level, eyes will be on a retest $13,000-14,000 range, top area between 26-27 June. The next major barrier would be the psychological $15,000 mark.

BTC/USD 15-minute chart

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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