Unless you are an enemy of Bitcoin, you know that the world’s first cryptocurrency has done very well since this new year 2020 began.
It has been observed how Bitcoin has broken; With almost no resistance, the levels of $ 7,000, $ 8,000 and up to $ 9,000. If we take a look at the last month of 2019, we can see how BTC has had a recovery greater than 50%.
Bitcoin doesn’t care what you think boomer
This increase in BTC prices, due in part to its next halving; He has left with his mouth open to own and strangers. And according to crypto experts, analysts have said, the most important crypto in the world could be expected to increase further.
According to these same traders, the resistance level of $ 9,900 is extremely important for the future development of BTC.
Bitcoin should maintain a price level above $ 9,900 at the close of this week. With this, one might expect to be able to take further momentum, he said Filb Filb Trader and author of Decentrader.
The famous crypto trader continued to express that each time each BTC token reached $ 9,950; its price always reaches an upward force that cannot be stopped. Otherwise, all optimism; according to Filb Filb, it can become a blink of an eye; in a series of bearish reversals; or what everyone knows as bear run 🐻.
Having expressed this, Filb Filb concluded that if BTC in some way or another can reach the end of Sunday, February 9, above $ 9,950. «Each Bitcoin could be worth $ 11,500 in a matter of hours».
A price level to rule them all
We all know that one of the most important psychological levels of Bitcoin is that of $ 10k. And therefore everything that has to do with the road is important for BTC to reach this point.
If we take a long-term perspective, from $ 9,900 to $ 10,000 there is not much difference. It could even be a normal difference between the prices traded in the different exchanges.
But, it doesn’t matter if it’s Binance, if it’s BitMex; or the name of the trader that is; The value of $ 9,950 is the beginning of the mass purchase.
But, as always, not everything is rosy. Many crypto traders warn the following.
Every time Bitcoin approaches $ 9,900 for several hours, and it fails to break and stay above $ 10,000. The cryptocurrency sharply recedes.
In this case, we could talk that if the world’s first crypto fails to exceed $ 10k as soon as possible; of a setback up to $ 7,000, and even $ 6,000.
Economics student of the UCV. Defender of individual freedoms and of course also of the market and cryptocurrencies.