Industry Leader Anticipates Bitcoin to Soon Hit $16,000 Despite Recent Consolidation

2019-11-4 21:30

Bitcoin (BTC) has been on a wild ride over the past several weeks, which first began when it incurred a meteoric rally that sent its price surging from lows of $7,300 to highs of $10,600 – a move that marked one of the largest single-day movements ever experienced by the cryptocurrency.

This movement instantly shifted the overall market sentiment and led many analysts that were previously setting relatively low targets to flip long, and one industry leader is now noting that investors should anticipate Bitcoin to surge to fresh year-to-date highs “soon-ish.”

Bitcoin Inches Lower During Bearish Overnight Movement

At the time of writing, Bitcoin is trading down just over 1% at its current price of $9,215, which marks a slight drop from its daily highs of nearly $9,400 that were set late yesterday as bulls began to garner some momentum that ultimately proved to be fleeting.

Over a one-week period, BTC has been caught in a relatively tight trading range between $9,000 and $9,500, and it does appear that $9,000 has become a key mid-term resistance level that bulls will need to defend if they intend to propel the crypto past its immediate resistance level.

Bitcoin’s bulls and bears remain deadlocked in the short-term as the crypto trades within it aforementioned trading range, and whether or not it ultimately breaks above or below this range will likely determine which direction it will trend in the mid-term.

Binance CEO: BTC to Hit $16,000 in Near-Term

Currently, Bitcoin’s year-to-date high exists around $13,800, but one prominent leader within the crypto industry is now claiming that he anticipated BTC to surge to fresh 2019 highs of around $16,000 “soon-ish.”

CZ, the CEO and founder of popular cryptocurrency exchange Binance, shared this bullish sentiment in a recent tweet, explaining that the sheer amount of people currently engaging with Bitcoin makes it easy to predict that it will eventually surge back towards its previously-established all-time-highs.

“Price predictions are easy.  It’s just hard to be right about the timing.  We will see $16k soon-ish. 1.4 billion people working on it as we speak,” he explained.

Although the macro outlook for Bitcoin certainly does appear to be bullish, it is important to note that where it goes in the coming weeks and months will likely be determined by how it responds to its current trading range.

Featured image from Shutterstock.

The post Industry Leader Anticipates Bitcoin to Soon Hit $16,000 Despite Recent Consolidation appeared first on NewsBTC.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66532.31 (-1.14%)
Объем 24H $36.2b
Изменеия 24h: -4.54 %, 7d: 2.03 %
Cегодня L: $66532.31 - H: $70011.8
Капитализация $1310.826b Rank 1
Цена в час новости $ 9315.55 (614.21%)

bitcoin consolidation industry recent despite anticipates leader

Источник: newsbtc.com

bitcoin consolidation → Результатов: 126


Bitcoin Will Move Like a “Bulldozer” Once It Gains Momentum, Claims Analyst

Bitcoin’s price appears to have entered yet another consolidation phase as it trades between $11,400 and $11,600 Its present lack of momentum comes close on the heels of the strong move higher that it posted last week The resistance above its current price level is quite intense, and this may mark an attempt from bulls to garner greater buy-side support Where the market trends in the mid-term will likely depend largely on whether Bitcoin’s consolidation […]

2020-10-15 21:00


Фото:

Sunday Digest: Bitcoin Price Consolidation, And The SEC Spoils The Party

Japan was hit by Typhoon Hagibis this weekend, causing devastation and affecting both the Japanese Grand Prix and Rugby World Cup. So what has been causing devastation and affecting bitcoin and cryptocurrency markets for the past week? Bitcoin Price: Consolidation Station So it seems we are back in a consolidation phase, albeit around the lower underlying price point of $8k.

2019-10-14 19:00


Bitcoin Cash (BCH) Daily Price Forecast – October 10

  BCH/USD Medium-term Trend: Ranging Supply zones: $800, $900, $1000 Demand zones: $300, $200, $100 BCH still remains in consolidation in its medium-term outlook. $517.70 in the demand area was the low the cryptocurrency attained as the bearish pressure within the range continues before the end of yesterday session. The 4-hour opening candle at $520.50 […]

2018-10-10 21:01


Фото:

Bitcoin Price Analysis: Potential Reaccumulation Could Test Bear Trend

Last week, after a devastating move that shook the market violently up and down for a 7% move in just a few short minutes, bitcoin saw a major sign of strength as it proceeded to have a slow, but steady markup where it managed to establish a local high in the $6,800s:Figure 1: BTC-USD, Hourly Candles, Shakeout Prior to MarkupThis shakeout forced the market to temporarily establish a new monthly low in what could be argued to be a stop-hunt prior to the move to the $6,800s.

2018-9-24 21:29


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Sui price recovery gains momentum as Mysticeti upgrade launches on mainnet

Sui price has witnessed a significant price recovery in the past week, following the launch of its Mysticeti upgrade on the mainnet. The Mysticeti upgrade provides a breakthrough in consensus latency and transaction speeds and it has positioned Sui as one of the fastest blockchains, driving market confidence and user adoption. Sui Network Mysticeti upgrade […]

SEI price up as Sei v2 upgrade proposal receives overwhelming support

The price of Sei (SEI) has surged by 9.41% in the past 24 hours to trade above $0.57 as the Sei v2 upgrade proposal gains remarkable traction within the crypto community. The upgrade proposal by the Sei Foundation aims at enhancing Sei’s blockchain with improved Ethereum compatibility and performance. With the proposal now live and […]

Notcoin in focus as KangaMoon excites with bonus sale

Notcon (NOT) token’s price fell sharply after its debut on exchanges. KangaMoon (KANG) is offering a bonus presale stage ahead of first CEX listing. Analysts say the lackluster spot Bitcoin ETFs market means Bitcoin prices could see limited upside action in coming weeks and months.