Cryptocurrency
First Mover: Two Weeks From Halving, Bitcoin Rally Brings $10K Into View
As reported by Coindesk, “Bitcoin has strung together seven consecutive daily gains, something that hasn’t happened since the price shot up to last year’s high around $13,000 in July. “The cryptocurrency’s price now stands at over $7,750, up 8 percent so far in 2020. “And with the Bitcoin blockchain’s once-every-four-years rewards halving now just two […]
As reported by Coindesk, “Bitcoin has strung together seven consecutive daily gains, something that hasn’t happened since the price shot up to last year’s high around $13,000 in July.
“The cryptocurrency’s price now stands at over $7,750, up 8 percent so far in 2020.
“And with the Bitcoin blockchain’s once-every-four-years rewards halving now just two weeks away, some analysts are starting to fix their sights on the next upside target: $10,000.
“’Look for prices to attempt the $10,000 level on speculative buzz leading into the halving,’ Jehan Chu, co-founder and managing partner at Hong Kong-based blockchain investment and trading firm Keneti Capital, told CoinDesk.
“‘A break above $10,000 would be significant from both a psychological and a technical standpoint,’ the research firm Delphi Digital wrote Monday in a note.
“‘With everything going on right now, it could also just bust through the top and zoom toward the next point of resistance, possibly near $10,000,’ Mati Greenspan, founder of Quantum Economics, told clients…”