Bitcoin Price Smashes Through $8,100 in Minutes, Analysts Eye $10K

The bitcoin price has increased from $6,863 to $8,167 by more than 19% in the past 48 hours. As bitcoin achieved a new 2019 high and recovered to July 2018 levels, analysts pointed toward $10,000 as the next likely target.

The abrupt price movement of bitcoin from around $7,000 to more than $8,000 follows the caution of a relatively large number of technical analysts regarding the demonstration of oversold conditions by bitcoin’s technical indicators.

Some have pointed toward the statement of Bitfinex Chief Technical Officer Paolo Ardoino, who announced the exchange successfully raised $1 billion from private companies and industry “giants” as a potential catalyst of the overnight rally of bitcoin.

Reference: https://www.ccn.com/bitcoin-price-analysts-eye-10k

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Author: Neo Anderson

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