Bitcoin [BTC] Crosses $10,000 7th Time This Year, Is this the Real Deal?
Bitcoin [BTC] crosses 10,000 again and investors are becoming apprehensive if this time the continuation will lead towards previous highs in 2019 and 2017 at $14,000 and $20,000. Not only Bitcoin but Ethereum also recorded its’ yearly high at $321 in price with over 30% rise.
Willy Woo, leading on-chain analyst thinks it might be a real deal. He tweeted,
Alts frothy, ETH getting a DeFi tailwind, volatility returning, BTC mempool peaking, BTC txs clogging, this is all great signs for the months ahead.
A technical analysis viewpoint suggests that consolidation above $9,700 range is critical. Tyler D. Coates, a crypto trader and analyst tweeted,
14 BTC & 95,000 Free Spins for every player, only in mBitcasino’s Viking Conquest! Play Now!
If we can support $9,600 – $9,700 over then next couple days then it could lead to a very familiar fractal…
A 1h Phase 3 that breaks through $10K, followed by a sharp Phase 4 that squeezes out shorts sure seems like a good way to break out of this range.
The surge in gold and silver prices during the week comes as a positive reinforcement for Bitcoin as well.
![Bitcoin [BTC] Crosses $10,000 7th Time This Year, Is this the Real Deal?](https://thebitcoinstreetjournal.com/storage/2020/07/Gskbiy.png "Bitcoin [BTC] Crosses $10,000 7th Time This Year, Is this the Real Deal?")
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com Published at Sun, 26 Jul 2020 20:02:35 +0000
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