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Bitcoin price hits $12000 and back to $11300 range: what’s next?
bitcoin price 6aug
The analyses, hence stand correct and Bitcoin price rose up to the challenge the thirteen thousand dollars ($13,000) resistance mark.
Currently, Bitcoin price is standing around eleven thousand three hundred and one dollars ($11301) while it traded above twelve thousand ($12,000) dollars for hours.
A big improvement in a few hours, considering the fact that bitcoin surpassed the ten thousand dollars ($10,000) mark just yesterday and kept above the eleven thousand five hundred dollars ($11,500) region.
When it was done surveying the eleven thousand seven hundred dollars ($11,700) territory, Bitcoin (BTC) rose up to twelve thousand dollars ($12,000). It hit the twelve thousand three hundred dollar mark ($12,300).
Asia, China, in particular, seems to be behind this surge in the daily bitcoin cap. The yen tumbled down a whopping ten year low against the United States Dollar.
This five percent (5%) pump in its price has given bitcoin enough reason to keep the climb steadily. Volatility aside, if this keeps up then Bitcoin’s next major resistances will both lie on the thirteen thousand dollars ($13,000) threshold.
The first key resistance will be experienced by the crypto giant at thirteen thousand one hundred dollars ($13,100) and the next at thirteen thousand eight hundred dollars ($13,800).
The Bloomberg analyst, Mike McGlone, wishes to keep a hold on his Bitcoin stocks. Bitcoin might just keep going up:
Bitcoin’s footing is getting stronger in terms of price and mainstream adoption, with futures-market activity dictating the first-born crypto’s direction. An increasing premium in the futures’ trading prices is indicative of growing buy-and-hold interest. pic.twitter.com/ZeVmbIXWSL
— Mike McGlone (@mikemcglone11) August 5, 2019
There’s no accounting for taste. White, the gold enthusiast/advocate Peter Schiff, has not embraced the crypto side. Schiff calls out CNBC, that’s profoundly bullish about the Bitcoin ascend, to be creating the FOMO in its viewers regarding the current BTC situation.
CNBC is trying its best to dupe its audience into buying Bitcoin. Despite gold being a much larger market, CNBC devotes far more airtime to Bitcoin. The Chinese aren’t buying Bitcoin as a safe haven. Speculators are buying, betting that the Chinese will buy it as a safe haven!
— Peter Schiff (@PeterSchiff) August 5, 2019
Fundstrat’s Tom Lee thinks this year will be Bitcoin’s chance to set new all-time highs:
Bitcoin is proving itself to be a valid macro hedge. That is a change in its character this year and sets it up for new highs. https://t.co/FqIkx0DWRR
— Thomas (Tom) Lee (not drummer) FundstratDirect.com (@fundstrat) August 5, 2019
And of course, Max Keiser who is always speaking for the king of cryptocurrency, just predicted that the Bitcoin price would see new highs.
The market capital for BTC sums up to three hundred and seventeen billion dollars ($317B). With the rise in price, with eight billion dollars ($8B) more being injected since yesterday’s rise. Bitcoin has risen from taking a total of sixty-seven (67.7%) market cap share to a whole seventy percent (70%).
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Saad B. Murtaza
Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.
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