Bitcoin price is set to explode if it hits $13k

Bitcoin price is set to explode if it hits $13k
фото показано с : invezz.com

2020-8-19 17:16

Bitcoin price spent the past few weeks struggling to reach and breach the resistance at $12,000. Traders around the world kept an eye on the coin and its performance ever since it moved from $9.5k, some time ago.

Predictions were various, some claiming that rise above $11,500 will cause a surge. Others expected it to happen if BTC were to hit $12,000. At the moment, the coin sits at $12.272, after growing by 3.30% in the last 24 hours. However, the new prediction, coming from one trader, is that BTC price will only explode after hitting $13,000.

Bitcoin price expected to surge

The new forecast of Bitcoin’s apparent explosion at $13k does not come without evidence. In his recent tweet, trader known as JSterz, noted that BTC futures are trading 6% above spot price.

It seems extreme to see BTC-Mar21 trading 6% above spot. We have been at this level about four times since 2017. If #BTC breaches 13k+ this thing is going to explode. pic.twitter.com/w9rOl1OXCQ

— Julien (@JSterz) August 17, 2020

The trader sees this as ‘extreme’ BTC futures spreads, and a sign that a major bull run is along its way.

Naturally, most people would likely be pleased to see such a development. However, it has yet to be seen whether it will actually arrive.

Right now, BTC futures are set to expire in March next year, and they are currently priced 6% above Bitcoin’s current price against the US dollar. For the moment, BTC price sits at $12.272, after growing by 3.30% in the last 24 hours.

However, JSterz sees this as quite a serious indicator that the price surge is coming, and that BTC is set to explode should it reach $13k.

More evidence of the approaching rally

Of course, there is other evidence that this might be the case, Many still remember a dramatic buy-in from a company MicroStrategy in late July. This multibillion-dollar firm did not move with no reason.

Not to mention Grayscale’s purchase of BTC that is taking the coins away faster than the miners can make them. There is a huge demand for BTC from institutions, and even John Bollinger, who created Bollinger Bands indicator, believes that the strength of the upcoming rally will be quite memorable.

I imagine that someone is complaining about the $BTCUSD rally. Not me, a picture perfect advance so far.

— John Bollinger (@bbands) August 17, 2020

The post Bitcoin price is set to explode if it hits $13k appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 68068.53 (-0.37%)
Объем 24H $14.493b
Изменеия 24h: 0.52 %, 7d: -1.65 %
Cегодня L: $67390.1 - H: $68322.67
Капитализация $1341.413b Rank 1
Цена в час новости $ 11704.34 (481.57%)

bitcoin price kept world around traders eye

Источник: invezz.com

bitcoin price → Результатов: 126


Bitcoin Price Prediction: Expert Spotlights “Very Good” BTC Buying Opportunity Amid Ethereum (ETH) ETF Frenzy – Here’s His Outook

Bitcoin’s price trajectory remains a topic of intense speculation, with analysts closely monitoring market patterns and key events. In a video analysis, top analyst Crypto Rover delved into Bitcoin’s price trends, potential breakout scenarios, and the impact of the upcoming Ethereum spot ETF decision.

2024-5-20 18:30


Bitcoin Price Trajectory: Is a Major Shift Looming? Expert Highlights These Key BTC Trends

Bitcoin, the world’s largest cryptocurrency, finds itself in a precarious position as it approaches the weekly closure, threatening to register its fourth consecutive red candle. This rare occurrence has sparked concerns within the crypto community, prompting experts like Sjuul of AltCryptoGems to analyze Bitcoin’s price action on higher timeframes.

2024-4-28 19:30


Bitcoin (BTC) price prediction after breaching $72k

Bitcoin price forecast points to a possible $82,000. Ten days remain to the much anticipated Bitcoin halving event. Kangamoon, a new meme coin, has raised over $4M in its ongoing presale taking advantage of the crypto hype created by Bitcoin’s price surge Bitcoin (BTC) has been making significant waves in the cryptocurrency market, with its […] The post Bitcoin (BTC) price prediction after breaching $72k appeared first on CoinJournal.

2024-4-8 15:15


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin ETFs see $45m in inflows

Spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded a net inflow of $45 million on May 28.   This extended their win rate to 11 straight days despite the Grayscale Bitcoin Trust ETF (GBTC) experiencing $105.

Spot BTC ETFs recorded $0 inflows, Bitcoin price drops

Spot Bitcoin (BTC) exchange-traded funds (ETFs) in the U.S. have recorded $0 net inflows for the fourth time since their launch in January. According to data provided by Farside Investors, spot BTC ETFs stood still on May 27 as the…