All the discussion around Bitcoin is related to its price. As Bitcoin has surged above $11300 before pulling back a bit earlier in Sunday.
Bitcoin and Ethereum both dropped marginally on Sunday after rising up the ladder. However, the believe that the Bitcoin will reach the $28000 mark and will keep on going on to hit the six-digit figure is still strong.
Heisenberg Capital founder and Keiser Report host Max Keiser believes that their is no chance that Bitcoin will see a resistance after reaching the $20,000 mark. Adding that the undisputed king of digital currency will go all the way to hit the $28,000 mark before further moving ahead to reach a lakh.
“The $20,000 level for #Bitcoin won’t pose any resistance. We won’t see any resistance till $28,000. A brief pullback then the assault on $100,000 begins with renewed vigor.”
The cryptocurrency market has benefited from the rise of Bitcoin price in the recent week. It has risen to all-time high in the year of 2020. The price of Ether has also worked in favour of the market growth.
“A $1700 BTC hourly candle (mostly in a few minutes) on extremely high volume, including a similar sell-off on ETH in the middle of the night? Cool. There were bear divs everywhere, as I mentioned,” Cryptocurrency trader Scott Melker said.
A trade dealer at Amsterdam Stock Exchange Michael van de Poppe said that altcoins will be benefited through the rise of Bitcoin.
“The most likely case is that we’ll have volatility on $BTC & $ETH as they determine their range. But over time (one week-two weeks) this will start to drop. What do you have to do? Yes, buy dips on altcoins. While everyone is focused on $BTC, your focus should be on alts.”