• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Bitcoin Bulls May Get Another Chance At $10,000 As Crypto Market Shows Strength

Tony Spilotro by Tony Spilotro
2 years ago
in Bitcoin, Cryptocurrency news, Litecoin
Reading Time: 3min read
Bitcoin Bulls May Get Another Chance At $10,000 As Crypto Market Shows Strength
Advertisement
Listen to Article

The saying goes, “what goes up, must come down.” Yet to everyone’s surprise, Bitcoin’s downside resilience despite an over 100% gain over the last few months of parabolic growth has continued to prevent the correction most analysts expect from ever occurring.

But now, as the crypto market is once again showing signs of strength, bulls appear to be gaining the upper hand. Should bulls be able to take the Bitcoin price above resistance at $8,200, the leading crypto by market cap should make another attempt at $9,000 and may finally revisit important bear market psychological resistance at $10,000.

Crypto Bulls Defend $7,000, Reclaim $8,000

Over the last couple of weeks, Bitcoin’s parabolic rally began to look like it was coming to an end, with the price of the cryptocurrency falling back below $8,000 for a local low around $7,400. After a strong bounce, resistance has turned support, and it could lead to Bitcoin price targeting $8,200, according to crypto analysts.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

$BTC: Bullish Resistance Flips to Support

A close above current resistance will be a nice move for Bitcoin which could lead to a retest of the resistance in the $8200s

A break and close above $8200s would bullish for a further move up to high $8ks pic.twitter.com/Knvq5NFMKH

— Josh Rager ? (@Josh_Rager) June 7, 2019

A break above $8,200, according to analysts, would lead to further upward momentum. The break back above $8,000 has already sparked FOMO-driven “spot buying” on some exchanges, from traders who think this rocket has more fuel left.

So much spot buying. pic.twitter.com/NeQ1AukWk9

— wolf (@ImNotTheWolf) June 7, 2019

The FOMO could help take the price of Bitcoin closer toward $10,000 – a key rounded number that Tom Lee says will trigger a cascade of additional FOMO across the entire market.

$BTC chart update.. Still range bound between 7500 and 8000.

You'll know when we break out of this range for real, because we will be at 10K very quickly pic.twitter.com/hebVcbWkrQ

— cryptocomicon (@cryptocomicon) June 7, 2019

Not everyone is convinced by the bullish movement, but those unconvinced still agree that $8,200 is an important level that if reclaimed, will set the direction forward in the coming days.

I don’t think we will actually see 8.2k on $BTC. Meaning I think if we are to dump today we will fall just short of it. If we do hit 8.2k it opens the doors up for much higher imo.

— Credible Crypto (@CredibleCrypto) June 7, 2019

 

Altcoin Sentiment Could Be Propelling Bitcoin Price Higher

Sentiment is particularly bullish across the crypto landscape, as prominent traders and analysts gear up for the eventual “alt season” most are expecting to occur.

Since Bitcoin is closely tied to all other cryptocurrencies, simply through its market dominance and leadership position, or through BTC trading pairs altcoins are bound to, one segment of the crypto market often pulls the other one along with it for the ride.

This is typically the case – when Bitcoin rallies, so do alts, and vice-versa. In a rare occurrence, starting with Bitcoin’s break above $4,200, the two highly correlated crypto assets began to diverge, with altcoins falling to new lows while Bitcoin went on to set new local highs relative to its USD value.

But now that tables have turned and crypto investors have become increasingly bullish on altcoins. Litecoin in particular has been called a “no brainer” by some analysts, while others have issued a clear signal that Litecoin is a buy compared to Bitcoin.

Ima all over $ltcbtc pic.twitter.com/8cIy6ea3qz

— f i l ₿ f i l ₿ (@filbfilb) June 7, 2019

Others, are telling crypto investors to be prepared for a “blast off” compared to what happened the last time Litecoin approached its halving.

This is what litecoin did 4 years ago before last halving…

be prepared for blast off #ltc #litecoin #bitcoin #btc #litecoinhalving @johnkim77 @cryptorecruitr @CryptoSavy1 @filbfilb @Josh_Rager @PeterLBrandt pic.twitter.com/PzxpYZFUzM

— Master⚡️250k/6.25k BTC/LTC 2021 (@MASTERBTCLTC) June 7, 2019

It’s not just Litecoin causing crypto investors to become increasingly bullish on the crypto market as a whole. According to some crypto analysts, the altcoin market has been in the longest ever accumulation phase, which could be the perfect storm for the largest ever alt season.

Were now in one of the longest altcoin accumulation periods of all time

That means we could see the biggest altseason of all time soon ? pic.twitter.com/ixOiZaTHzh

— moon (@MoonOverlord) June 7, 2019

Due to all of these bullish factors, it’s easy to see why the crypto markets have started to surge once again. With Litecoin leading the charge, and the rest of the altcoin market potentially pushing Bitcoin higher, the crypto market hype train is starting to board once again.

Tags: bitcoinbitcoin pricecryptohalvingLitecoin
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

Related Posts

Finlaw Associates to Submit Draft Cryptocurrency Regulation to Indian Govt as Community Demands for Clarity, Mr. Mishra Explains

Finlaw Associates to Submit Draft Cryptocurrency Regulation to Indian Govt as Community Demands for Clarity, Mr. Mishra Explains

9 hours ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin En Route to $30,000 After Price Falls ~12% in a Day; Here’s Why

1 day ago
Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

1 day ago
btcu

The Brilliant Minds Behind the BTC Ultimatum Project, and Their New CEO, Eric Ma

2 days ago
Can Blockchain Help Enterprises Navigate GDPR Headaches?

Can Blockchain Help Enterprises Navigate GDPR Headaches?

2 days ago
altcoins bitcoin crypto alt season altcoin xrp ethereum ripple litecoin

Centralized Wealth: The Downside To Institutional Bitcoin Buying

3 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 2021

LABS Group Announced Strategic Partnership with Centifuge to Provide DeFi Collateralized Property Backed Lending

January 22, 2021

Jump-starting Crypto Adoption: Aurix IEO Scheduled for January 21st on ExMarkets!

January 22, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.