Topic: Crypto Investors Rejoice As Bitcoin Price Surges Above $10,000 - page 2. (Read 383 times)

@jating bitcoin prices managed to break the $11k levels, and even surged towards $12k levels however now the prices are once again down to $10.9k levels, but it’s pertinent to note that they’re yet high as they were trading at $9.3k levels few days ago. Also multiple reasons for this rally are being cited and most notably among them are 1) that the traders cashed out their profits from defi tokens and invested in bitcoin and Ethereum, 2) the permission given by Office of the Controller of the Currency to banks to hold bitcoin for their clients.

Sources:

https://bitcointalksearch.org/topic/m.54853558

https://fortune.com/2020/07/27/bitcoin-price-usd-news-experts-surge-theories/

Personally, I think the big barrier is $10,500 but since we have broken it already, this bull run might continue and hit $11k or even $12k. This is the break out run that we have been waiting for many months now so let's see how far this run can go.


But year-to-year bitcoin has perform better in the bear market, not even the pandemic scare put a damp on the market. Yes, we have seen lower lows during the scare, but we already bounce back and now hitting another higher highs for this year. But it is still a long way to go before new all time high, not seeing it this year.

After three years of a prolonged bear market it is good to see more money coming into Bitcoin now and also if you check the over all market cap for Crypto has also grown as well. In the last month or so over 50 billion entered the crypto markets and of course a lot of that now is going into Bitcoin, both from retail investors and speculators and also from big companies like Grayscale who are buying up all the new BTC being mined. I also believe this bull market will last for over a year and will run longer than the previous one.

For those who bought on 9100+ price then this would be the best time to sell out for profits yet on this kind of movement i can somewhat feel or my guts do tell me that there would be always a price correction which is normal.

If this price movement will continue then it can possibly break 11k and we arent that too far away into that price.Its either it would reach or touch it and made some denial or rejection or would able to breakout.

For those people who do able to buy on cheap price then they are definitely rejoicing.

That's the question everyone would like to know the answer to. Is BTC going to stabilise above 10K or not? By the looks of it there doesn't seem to be much resistance to the next 1k to make it 11k but will it surpass that, and is this going to be the beginning of a new bull run?

Let's hope so, but on the realistic side of things probably this run won't last long but it may at least set a new and higher BTC stable price 

      Lol. As expected in this industry, as long as there is good news, the price goes up a lot. That's just how it is in all of the other crypto currencies here in this industry, not just bitcoins or etherium but all of them. And of course, since the prices are going in a surge, kost of the people in this industry if not everyone rejoices. I mean, who wouldn't be happy seeing their investments doing good and gaining profits? It's completely natural. It has been like that every time in this industry, if you are new to this then welcome. I suggest you take notes so that you don't get shocked every time things like this happens. Lol.

Yes, I know others are happy as what's the price is showing right now but for me, not taking it as a "special" as breaching $10,000+ is really realistic to happen.

There might be some struggle passing that level during the past month but still, we all know it will happen.

The quote of "this will be the last time we will see Bitcoin below $10,000" is now taking the buzz again. Now up to others on what they think the next thing will happen.

Unfortunately this is a statement that doesn't have any factual truth to it.  Bitcoin is on a nice run, and there is plenty of optimism to be had, but you can't state prices will only go up from here for anything on this planet, let alone a volatile cryptocurrency.

It´s not that it is simply above the 10K, the cool thing is that it stays there for longer than a 5 minute candle! Finally the barriere seems to be broken. Lets hope now that the 10K will become a similar strong support level as it was a resistance up till today. ETH rising too, so a day to celebrate.

Pull back is expected with that price, BUT if it really stays in that price range then we might see a new price resistance over that level, I hope it will really do. All Time High this year? it is quite vague for me because of the crisis that we are having right now, only rich people can enjoy this much for cryptocurrency. 2020 has not been that bad for crypto, not until countries imposed lockdown, noticeably price went down after that around March, then we saw the price touching 10K and drops, now it reaches 10K again so I expect it to drop again any time.

I'm rooting for ethereum, bitcoin will be just there forever. Ethereum is possible to reach an ATH this year, as speculation says it could reach $5k this year, who's not excited for this?

Expect a pullback rather sooner than later. The big question is whether Bitcoin will manage to stay above 10k for good, if yes we're going to to be in for a good time. Not sure if I'd expect a new ATH before 2021 though. We still have a lot of resistance levels ahead and who knows what other surprises 2020 still holds in store.

If Ethereum is also prepping its moon rockets, all the better. Confidence in one pushes confidence in the other.

If only it were that simple, but just a few months ago you could see Bitcoin share the same fate as stocks, oil or gold in the event of a global negative event - losing 50% of its value overnight seemed really ugly. It is maybe wrong to think that the price will go only up, and some are even talking about a new ATH this year - but the first two halvings did not have an instant impact on the price.

Don't get me wrong, I'm not against BTC start a new big bull run, but somehow it seems to me that this could only happen next year at the earliest, which does not mean that this year will not end very positively in terms of price.

And that was why we see ETH having that crazy bump from 0.025 to 0.032... now is going down, but looks like it's more fuel for bitcoin bump, is really nice to see it at $10500 today. Let's see how high can it get.

We are in the post-halving timeline. Prices only go up from here

The overall cryptocurrency market is surging northwards as Bitcoin and a majority of the altcoins are trading in green today. The world’s strongest cryptocurrency is showing strength at this stage jumping by more than 5% in the last 24 hours.

At press time, BTC is trading at $10,310 levels with a market cap of $190 billion. As per the WorldCoinIndex data, the 24-hour daily trading volumes have also crossed $7 billion at the time of writing this article.

This is for the third time in 2020 that Bitcoin has managed to cross the $10,000 mark. However, every time it did so, the BTC price has seen a major pullback from those levels going back close to $9,000 levels.

If we see the last week’s chart, Bitcoin has surged over 12% in the last one week to move above $10,000. However, the world’s largest cryptocurrency is seeing a major resistance of $10,500 and it has failed twice in 2020 to breach it.

If Bitcoin manages to breach it this time, we can see it setting up a new support here and start a bull run from there onwards. While Bitcoin has been said to be a ‘digital gold’ and a safe-haven against the stock markets, it hasn’t turned out that way.

In fact, the BTC price has been moving in line with the stock markets for this year. During the stock market crash of March 2020, the Bitcoin price crashed below $5000 levels, a whopping 50% fall from its mid-February high of over $10,000.

Bitcoin has managed to recover its losses since then. At the present levels, Bitcoin is trading at nearly 40% premium year-to-date.

On the other hand, the world’s second-largest cryptocurrency and Bitcoin competitor Ethereum (ETH) has also managed to show strength over the last week. In the last week, Ethereum (ETH) price surged more than 25% to cross above its crucial milestone of $300 over the weekend.

At press time, ETH price has surged 4.82% in the last 24 hours and is trading at $326 with a market cap of $36.15 billion. The sudden surge in the ETH price after the network’s daily transaction volumes reached its all-time-high last week.

The latest price surge amidst a significant surge in the DeFi activity on the Ethereum blockchain. Decentralized Finance (DeFI) contribute to a majority of the daily trading volumes on the platform as on date.

Ethereum developers have accelerated their work for the ETH 2.0 release which provides massive scalability boost over the existing network. While the existing Ethereum network can process only 15 transactions per second, the ETH 2.0 will hold the capacity to process 1000s of transactions per second.

The Ethereum 2.0 testnet launch is expected to happen next week on August 4.


Source:
Crypto Investors Rejoice As Bitcoin Price Surges Above $10,000, And Ethereum Above $300