Bitcoin Races To $10k And FOMO Hits Crypto Enthusiasts – Potential Price Trigger
The crypto market continues to make crypto enthusiasts happy today as well, with all the coins trading in the green.
It’s been revealed that Bitcoin has been able to survive more than 300 RIP predictions, and now the coin seems to be rushing towards $10k.
At the moment of writing this article, BTC is trading in the green, and the most important coin in the market is priced at $9,774.68.
A beginning of the next bull run
Some crypto enthusiasts are calling BTC’s latest price action the beginning of the next bull run.
The online publication the Daily Hodl mentions a crypto analyst called CryptoBull calls this an anticipation of an epic breakout and he told his twitter followers to hang on for this ride.
The breakout from this thing is likely to lead to the biggest weekly green candle in bitcoin's history.
Consider yourself warned! pic.twitter.com/QNC3WvHT80
— Crypto₿ull (@CryptoBull) February 5, 2020
ShapeShift CEO Erik Voorhees addressed BTC’s scarcity and remarked the following:
“If each millionaire on Earth wanted a Bitcoin, they couldn’t all have one. If you own one, congratulations. Hold onto it.”
What’s pushing the price up?
Alex Mashinsky, CEO at Celsius Network (this is a crypto lending and depository company working to decentralize banking), speculated that retail interest in Bitcoin is boosting the price like this.
“It appears that US retail interest is driving Bitcoin’s latest price surge. The fact that US spot BTC prices are higher than those on crypto exchanges abroad is a strong indication of high US retail demand,” he said.
He continued and explained that “It may be the case that US investors are cashing out on recent stock market gains from stocks such as TSLA and putting that money back into Bitcoin as a hedge against lingering uncertainty over the coronavirus and its long-term impact on global equities. The near-term goal for Bitcoin investors is to recapture 2019’s high and hit $13,000.”
The Daily Hodl also mentioned Jeff Rogers, a self-proclaimed, ultra Bitcoin maximalist on Twitter, who just said that he’s all in.
“I sold all my cars, watches, and real estate. I closed all bank accounts. I’m all in, literally.”
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.