[2019-05-24] Analysts Say Bitcoin Could be Breaking Upwards to $10,000

[ruthbabe]

Analysts Say Bitcoin Could be Breaking Upwards to $10,000 in Coming Weeks

Bitcoin has been down slightly from its highest price this year at over $8,300 for some days now. Although the chance of making progress forward looks slim, analysts believe the cryptocurrency will be making a move upwards once the current pullback is over, most likely in the next few weeks.

One of the analysts, Galaxy says Bitcoin is trading with range and although the price may not reflect it, the asset is actually doing well and still bullish, retaining a 60% chance of an upward move towards $10,000 in the next three weeks.

In a similar fashion, another analyst, Crypto Rand says he expects Bitcoin to trade in the same triangle Galaxy referred to for the next few weeks.

A prominent figure in the crypto space, the Co-Founder of Morgan Creek, Anthony Pompliano also expressed optimism that Bitcoin will break out of its current price zone despite the current pullback. All these agreements from the different analysis cannot be a coincidence. One other analyst also says Bitcoin will shoot to $10,000 as long as it remains above $7,000.

Although the $7k price seems to have been held for a long time, DonAlt says Bitcoin will be seeing good days if it manages to surpass $7,950. Although there have been fears that the leading cryptocurrency could see a major correction under $7,000, its ability to hold above the price may be suggesting the asset is determined to push its way up.

The pullback was a chance for altcoins to catch up with Bitcoin according to some analysts. This was reflected yesterday as all top altcoins turned green along with Bitcoin in the later hours of yesterday, unlike the earlier patterns when Bitcoin surged high but altcoins including Ethereum were in the red.

Bitcoin might be seeing some price consolidation this week according to cryptocurrency trader Josh Rager, and major volatility may hit on Friday 311 May. He says this will be “the apex of the meme triangle apex (condensing price),” which is also within the range of the few weeks when Bitcoin is expected to break out. No matter how long it takes, the crypto community will be waiting when Bitcoin is ready to break out.

Source: ZyCrypto

[CryptoBry]

There is a strong trend right now affecting bitcoin: analyst after one analyst telling us that bitcoin is on the verge of pushing forward to the $10,000 level. Well, they do have some figures and charts backing their claims so I guess I have no choice but to believe on them. Who would not want bitcoin to go up and break the $10,000 level? From the $10,000 anything can happen...who knows from there a big bull run can ensue and we will wake and bitcoin is already approaching $20,000 again. Right now, bitcoin is back at the $8,000 after retracing into the $7,800+ level. Hopefully, the time has come for bitcoin to get ready for the $10,000 psychological barrier level.

[rodel caling]

Awoesome analysts since bitcoin quite increase their price most of the people positive mind set bitcoin can upwards their price continually after end of this year.
Therefore this news can bring from the community positive high moral for bitcoin future become popular and to replace fiat.

[target]

The gradual climb indicates a strong trend, it doesn't guarantee breakout but its a good sign that demands are getting good. Hopeful to see that happen in the next weeks or so. Price to go $10K i can confirm the bulls are winning already. It only needs a good nudge to make it happen, that ETf approval could have made this happen earlier but then SEC still are delaying all these. History will always repeat itself.

[Kemarit]

Let's just wait till it actually happened, those analyst have some 'intention' to really be bullish about the price of bitcoin, in case of Galaxy Digital, it is a the crypto merchant bank dedicated to the digital assets. So obviously, they have their own crypto clients, so they need to bring more hype to get more clients. So I'd say let the market work it's course naturally, I mean if it will get to break 5 digits again, then good. Instead of just listening to these so called experts analyst who's trying to pinpoint everything accurately.

[Netnox]

There will be a lot of resistance before $10,000 per coin and breaching this level can take up to a few months. Need to remember that we are still 12 months away from the next block reward halving, and any boost from that event won't be seen at least until the end of this year. So the momentum must come from some other source.

[BitHodler]

Price up = analysts and experts expect prices to go up further.

Price down = analysts and experts expect prices to go down further.

I haven't read one worthy bit of analysis coming from any of the more 'popular' news outlets. They probably ride the flow of the market so that they have something to report regardless of what the prices are doing.

In that sense, speculation as a whole offers an infinite source of content and news outlets know how to tap into that source. It's not that I blame them since it's a business that needs clicks/views, but they at least coud do their best more.

[CryptoBry]

Price up = analysts and experts expect prices to go up further.

Price down = analysts and experts expect prices to go down further.

I haven't read one worthy bit of analysis coming from any of the more 'popular' news outlets. They probably ride the flow of the market so that they have something to report regardless of what the prices are doing.

In that sense, speculation as a whole offers an infinite source of content and news outlets know how to tap into that source. It's not that I blame them since it's a business that needs clicks/views, but they at least coud do their best more.

Of course, there is no question that these analysts are just riding the bitcoin bandwagon to gain more attention for their content...and the more eyeballs the better for their pockets. This is just all business to them. What can be "positive" here is that this creates that avalanche of positive news that can play to sway the overall market sentiment. This is just like someone sowing gossip into the community until such time that everybody believe on the said gossip. An idea that can be repeated a lot of times can make good traction, grow and become the accepted reality.

[coolcoinz]

I also see this pattern of them being overly optimistic in a bull market and pessimistic in a bear market. You could see them being very negative and warning us about the possibility of a $1000 bitcoin just 2 months ago and slowly changing into bulls when that did not happen. You could also see permabulls like Max Keiser and Tom Lee doing their thing in the werly 2018. My advice to you all is: do your thing, have your own opinions. Don't invest as they are telling you to, do your own analysis. If the "experts" can change their opinions every few months it only shows that there are no experts. Everyone is clueless here.

[rodel caling]

I expect of that prediction and atill before end of this year bitcoin upward more than the from the llast bull run, 10,000$ price will reach this coming month in own analysis base on the coin market flow chart movement up.

[gabbie2010]

There will be a lot of resistance before $10,000 per coin and breaching this level can take up to a few months. Need to remember that we are still 12 months away from the next block reward halving, and any boost from that event won't be seen at least until the end of this year. So the momentum must come from some other source.

Absolutely you are right on this bitcoin had been strongly rejected by the strong resistance above $8K
making it quite difficult for the price to break that zone I also believed that once that strong resistance zone is broken then the price might ride on to $10K as speculated by analyst the signs of bullish momentum has been unfolding for past few weeks ago and hopefully this will be sustained.

[Vishnu.Reang]

No need to get ballistic about the 10K level. We were there some two years back, and I am not that excited thinking about it. The only thing that bothers me is whether Bitcoin will manage to survive above the 10K level or not. The last time it breached the 10K level, it could manage less than a month. Hopefully this time the situation will be different.

[veleten]

its easy to predict a 10.000$ break on a bull run coupled with positive news
the same old story , when you see it grows , say it will grow more , when you see it fall , predict it will fall ... and then grow some
don't know what is so magical about the 10k figure , apart from some traders and long time holders thinking of it as a mark to start selling
we have seen 13-17k figures and I'm pretty sure we will see more than that sooner rather than later
halving coming in a year or so , more adoption , more big players entering the market , huge  companies like Amazon are toying with the idea of accepting bitcoin as payment etc.
bar some global cataclysm I do not see bitcoin price go down
 

[Slow death]

These analysts make these predictions just so they can have a good image and promote their business. Look that many of them are very cautious when they make some price prediction and this is for not to destroy the little reputation that they still have. But if one day the price reaches more than $20,000, they will reborn from the ashes and make the most crazy predictions