Bitcoin is testing a key psychological resistance level at $10,000.
For a long time $10,000 was a big number that bitcoin would some day reach.Much like $100k or $1 million is looked at today (depending on who you are, i wish you are not McAfee).
Today, we are looking at breaking that number again to the upside.
This coming after hitting ATH ( all time high) $20k in December and then dropping all the way to $6k over the last 3 months. In South Korea and Hong Kong, bitcoin has already breached that $10k number this last morning but again dipped back. Will the US be next to hit $10k?
The charts look to be yelling yes!Honestly, to me that chart looks like it is going to make a massive run and break that previous ATH, but it may take some time to break out, or it could happen in a few weeks or month like it did last time in December.
What's causing the rally?
According to BKCM CEO Brian Kelly, recent price hike is just the beginning of the price surge and it is most likely being caused by the announcement from Goldman Sachs the other day that they will be opening a bitcoin trading desk.In my opinion Goldman sachs is just the tip of the iceberg and more banks will be following the suite very soon.Another thing which just happened to be bitcoin price spiker was tweet from Charlie Shrem:
"May 2018 will be the last time we ever see bitcoin under $10,000"
I am Not sure about you, but I can see trend showing that Bitcoin price going to be crossing $10k in early next week.
Do write your views about what you think and specially if you do not agree with me.
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