Bitcoin shoots up to $ 10,700 and unleashes hordes ups


The price of Bitcoin skyrocketed this morning with great force and the digital currency reached $ 10,700, which means elevations of 15 months. The $ 10,000 is a key level, a very psychological and also technical resistance, because they assume that bitcoin recovers more than half of what each has suffered since the end of 2017, in what many have defined as the puncture of the bubble. Now the market is completely dominated by the bulls and investors who have returned for fear of losing the rally.

The truth is that the influence of Libra, the new digital currency announced this week by Facebook, to which INVERSIN magazine devotes a full report this week, contributed to increase positive feeling about active cryptography, although this was not the only reason that can explain this renewed wave of optimism, since before big projects like Fidelity or Bakkt served to arouse the interest of Wall Street. Now, bitcoin touched the $ 10,700 this morning, according to Coinbase prices, which is a 245% increase over the 3,100 dollars in which Bitcoin moves in December.

"This recovery was extraordinary, " says George McDonaugh, chief executive of investment firm KR1. In his opinion, the money never escaped bitcoin definitively, but "he simply stood on the sidelines to re-enter."

Now, analysts look up and they try to see the next goal, which they calculate could be around $ 11,700, where there will be another resistance to attack. One of the most followed experts on the market, Josh Rager, predicted strong sales of about $ 10,000, but now he has changed the speech a bit and added that "if you like bitcoin at $ 10,000, more like at 11.7 thousand dollars. "

In addition, this new level that has surpassed the bitcoin in the $ 10,000 predictably will trigger a new wave of FOMO, a key psychological element, the fear of being left out of the rally (fear of losing) that can lead many investors to return with forcing the Marketplace. Tom Lee, co-founder of the fund Fundstrat Global, has no doubt that the $ 10,000 is the point that FOMO will trigger.


Source link