Bitcoin Breaks $8,300 In Crypto Rally – New Price Record Expected
There have been a few weeks of relative calm in the crypto space, and now, BTC moved again.
As you know by now, BTC managed to surpass $8,000, and analysts even said that we should be expecting that the most important coin in the market finishes January over $9,000.
It’s been also revealed that the CEO of crypto hedge fund Three Arrows Capital said that BTC seems to be well-positioned for an important breakout this month. It seems that we’re already in the middle of this breakout.
Just like we reported the other day, Su Zhu said that BTC’s recent price action shows that there are clear signs of accumulation.
BTC’s setup is getting interesting
Now, the Daily Hodl online publication mentions a popular strategist known in the industry as Crypto Birb tells his 63,000 followers on Twitter that BTC’s setup is “finally getting interesting.”
He says two major levels of resistance are left before a true reversal is confirmed. If BTC can cross $10,000, the analyst expects a long-term rally to begin.
At the moment of writing this article, BTC is trading in the green, and the most important coin is the market is priced at $8,300.02.
Optimistic predictions ahead
The same online publication mentioned above brings up two important names who have optimistic predictions on BTC.
Morgan Creek Digital co-founder Jason Williams said that the most important digital asset in the crypto space is on track to set a massive new record by the end of next year.
Bitcoin's price will be +$80k USD by December 2021.
— JWilliamsFstmed (@JWilliamsFstmed) January 6, 2020
The online publication also mentioned crypto analyst and Bitcoin bull Joe Saz who is also expecting an imminent bull run.
So far a good January. The halvening current should be picking us up soon. I'm bullish rn but next 4 to 8 weeks will hopefully set us up for the rest of the bull train to 6 figures
— Joe Saz (@Joe_Saz) January 7, 2020
The halving has been said to be a catalyst that will boost BTC’s price to the moon.
Anyway, 2020 definitely had a great start in terms of price for the digital assets and expectations for this new decade in the crypto space.
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Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.