After breaking through key levels of resistance, Bitcoin has raised the expectations of most investors and traders. Now fast growing up to 10 thousand dollars does not seem a fantasy, according to Bitcoinist.
The fall of the stock market has stopped
Over the last couple of days Bitcoin taught us many signals about the beginning of a new uptrend. Cryptocurrency has grown 20 percent in a very short time. For the first time since may of this year, Bitcoin broke above $ 8,000.
Chief trader Ayondo Markets Jordan Hiscott said that negative news about the cryptocurrencies are less frequent. In his opinion, Bitcoin has the potential to reach $ 9200 in the near future.
In my opinion, the sharp move over 7300 dollars were the result of long trades in the channel between 6200 and 6900 dollars. If Bitcoin will hold the current support level will have the opportunity to grow to 9,200 dollars.
Hiscott, not one adheres to this view. Other experts also agree with him. EToro analyst Matthew Newton predicts a new local uptrend with a target of 10 thousand dollars.
Sharp upward movement provoked traders to close their short positions. Likely to repeat the situation we saw in April. Then bitcoin has failed to gain a foothold above 10 thousand dollars. However, history is not always repeated. If the asset will stay above $ 8,000, so there are great chances to continue bullrun.
COO Blockbid David Supper believes in positive news from institutional investors.
Now is a very exciting period for the cryptocurrency and the industry at large. The big players interested in digital asset that gave a strong impetus to the price of Bitcoin.
On the strength of the local uptrend depends start whether it is more a global movement to new price highs. If so, then now is the time to invest in a crypt. Promising altonah and forecasts for Bitcoin from the horse’s mouth can be found in our cryptodata.
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