Bitcoin breaks $8k once more: "$9k if we close above $8,000," says analyst

10 Jun, 2019
by Will Heasman
Bitcoin
Bitcoin breaks $8k once more: $9k if we close above $8,000, says analyst

Bitcoin once again broke through $8k this time with an impressive pump of around $300, marking the third time since Bitcoin’s fall below 8.5k that the #1 has managed to creep back up above this point. But will we continue this back and forth forever? What’s next for Bitcoin?

Currently, Bitcoin’s (BTC) price stands at around $7950 with BTC seemingly stabilizing after a mad dash upwards.

 BTC/USD Chart provided by Tradingview

One analyst known as Crypto_y_tho, suggested that Bitcoin could take one of two routes, first, the bearish avenue ruminates at a daily close below $8k which could lead to bitcoin finally falling below $7k, the bullish take points to a daily close above $8k, which could see BTC test against $9k.

providing more positive vibes, Cantering Clark relayed that BTC’s last move has him believing that Bitcoin could go up rather than down, adding that futures trading at a small premium indicates that bullish momentum is once again growing:

DYORangutang displayed some post trade regret, suggesting that BTC is looking to test $8200, contrary to the analysts previous estimation of $7k.

Also looking at the $8200 level is Josh Rager, who similarly believed Bitcoin was going down only to be proven completely wrong:

So, it seems as if Bitcoin has surprised everyone today, but for the most part the consensus is that this pump could lead to further gains. What do you think is Bitcoin going to further today’s gains or will we see another dip well below $8k? Let us know your thoughts in the comments !

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