The crypto market looks pretty bloody today with Bitcoin and the digital assets trading in the red.
As you know, Bitcoin was able to surpass the important level of $10 recently, and then the next day, the king coin fell almost $1,000 in a matter of minutes as we already reported.
At the moment of writing this article, Bitcoin is trading in the red and the king coin is priced at $9,636.23.
Bitcoin massive bull could be on the way
The online publication the Daily Hodl revealed that crypto strategist Josh Rager posted on Twitter that the king coin is really close to making a move that will have some pretty massive implications.
But, he also noted that the bulls have a few things more to do before this happens.
$BTC breaking above daily resistance
Showing no mercy to bears and is on route to try to brak above $10,300s
Closing above $10,370 would be insanely bullish pic.twitter.com/0l8YTrJ6Uy
— Josh Rager 📈 (@Josh_Rager) June 1, 2020
Crypto analytics firm Santiment also has a few things to say.
They explained that Bitcoin’s rise in valuation comes as the king coin has been showing robust yearly on-chain and social fundamentals, but the monthly timeline is quite a different story.
2/ a rising trend that #Bitcoin is enjoying right now. On the yearly timeframe, $BTC shows a clear rise in DAA, trading volume, and an up-and-down social volume. Though this price could hold and push toward $11,000 and beyond, the shorter term monthly is more of a small decline pic.twitter.com/6H3ZDvKxhV
— Santiment (@santimentfeed) June 2, 2020
3/ for these same three metrics since the beginning of May. With these mixed results in network health, we advise staying cautious here and watching $BTC metrics (using our link above) to see which way momentum begins moving over this next week. It will be crucial to see whether
— Santiment (@santimentfeed) June 2, 2020
Stay tuned for more Bitcoin and crypto news.
