Bitcoin Smashes Through $11k – Bullish Prediction Incoming
Bitcoin made holders more than excited the day before when, in order to celebrate the fact that the king coin hit the important level of $10k, it then went further and reached $11k for the first time in 2020.
At the moment of writing this article, Bitcoin is still trading in the green and the coin is priced at $10,951.30.
Anthony Pompliano made sure to celebrated the important event and tweeted this:
#Bitcoin smashing through $11,000 like the king that it is
— Pomp 🌪 (@APompliano) July 27, 2020
Earlier, he made sure to make the most useful video on YouTube, explaining to newbies some Bitcoin essentials.
— Vaughan Rhea (@vaughanrhea) July 28, 2020
Huge Bitcoin bull run around the corner
There are various bullish BTC predictions these days.
The online publication the Daily Hodl mentions the Bitcoin trader who saw Bitcoin’s crash in 2019 predicts that a huge BTC bull run is close.
Dave the Wave said that Bitcoin would eventually break out of the range that’s been in for a few months and launch a new cycle.
His prediction was made before BTC hit $10k.
He said that before going to the moon, BTC could be dipping as low as $6,900 before recovering and breaching the diagonal resistance of the multi-year triangle.
BTC to hit $100k before the end of 2022
He also said that his short-term bearish view would be invalidated if bulls manage to send the top cryptocurrency above $10,600. He believes that BTC will surge to $100,000 before the end of 2022.
The same online publication brings up Blackroots co-founder and crypto investment advisor Ryan Scott:
“No matter what, as a real heads up for all those who are hyper-bullish [on] BTC. If this breaks out of this range, at some point there will likely be an insane shakeout wick that violates what you consider is the lowest low that could be violated for market structure.”
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.