How far will Bitcoin (BTC) go? That’s the question at the moment, with Bitcoin trading at $ 11,070 today, July 28, 2020, as of this writing. Bitcoin has consolidated many of its fundamentals during the period of its price compression; Is it time to reap the rewards of this long wait?
It is not finished !
Bitcoin crossed the $ 11,200 mark and approached $ 14,000 on some exchanges; almost 95% of the offer BTC will become profitable when Bitcoin will cross the $ 11,400 mark.
For the moment, we are entitled to a scenario quite similar to the increase in June 2019, with a BTC which had reached 13,800 USD.
The most of this new bullish period for the BTC : an unfavorable macroeconomic situation for the dollar which benefits Bitcoin – thank you the Fed – a context that directs investors towards safe havens like gold, silver and apparently Bitcoin.
The analyst of Cointelegraph Markets, filbfilb, indicates that strong support has formed at the $ 10,400 level. Filbfilb is long, he thinks the bulls are far from exhausted at the $ 11,000 level.
The 6 digits, already?
Max Keiser predicted a Bitcoin to 28,000 USD in its current ascent. The BTC gained 20% in less than a week; Keiser estimate that Bitcoin is expected to hit 6 digits after a period of correction to levels near $ 30,000.
Keiser benefited from the current rise in Bitcoin to attack Peter Schiff who would be “Throwing up his brains”. Schiff ruled out the hypothesis of a bull run of Bitcoin, bragging about the recent surge in the price of gold in the face of the declining dollar.
Source : Image via Twitter
BTC’s time of truth? Is a new historic ATH really possible during this bull cycle? Will Peter Schiff end up confessing his secret love for Bitcoin – Of course not ? The positive breaking point would be a Bitcoin crossing the $ 15,000 mark: by exceeding this symbolic level, the bulls will model the sentiment in the markets even more to their advantage. Watch out for the waves of the Gaffing Whales!
Litecoin, welcome in the Silver Age