BTC above $12,500! The stage for new yearly highs is set?

09 Jul, 2019 | Updated: 09 Jul, 2019
by Joeri Cant
Bitcoin
BTC above $12,500! The stage for new yearly highs is set?

According to several cryptocurrency analysts, the world's number one crypto coin is all set up to hit new yearly highs, with the condition that BTC manages to hold above the $12,500 price mark.

Since Chepicap's latest market update, BTC has continued its surge, reaching its current value of $12,558 per coin.

The number one cryptocurrency has gained close to 10% in the past 24 hours, while having reached its intra-day high of just around $12,700, which is why a number of analysts believe the stage is set for BTC to hit new yearly highs in the next few days.

BTC/USD Chart provided by Tradingview

A well-known cryptocurrency analyst, going by the Twitter handle, Crypto Hornhairs, suggests that Bitcoin could reach new yearly highs, if BTC manages to hold strong above the $12,500 price level.

'A break above $12.5k and there is not much in the way of new yearly highs', he tweets.

Another prominent crypto trader, Josh Rager, echoes similar sentiments by suggesting that the world's most popular cryptocurrency has a great chance of breaking through the 2019 high, given the fact that Bitcoin is now in a bull market.

Crypto traders continue to discuss what could happen next for the number one crypto.

Many have been predicting another retracement to levels as low as $8k, however, most seem to believe that a close above $12.5k would be very bullish in the short-term, with the $14,000 price mark as the next goal, or even a new ATH price.

What do you think? As we head deeper into the week, can Bitcoin keep up its growth?

Will we see new yearly highs soon? Let us know in the poll below.

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Read more about: Bitcoin (BTC)

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