A bull run to $15k is imminent predicts expert
A Bitcoin market analyst says that Bitcoin is preparing to make a bull run up to $15,000.
Currently, the world’s leading cryptocurrency is hovering around the $9,300 mark, according to the live price charts.
But one leading expert is predicting a breakout to $10,000, with a bull run to $15k to follow.
On Monday, cryptocurrencies remain fairly unchanged from recent gains.
Investors are eyeing key price levels ahead for the number one digital currency, however.
Bitcoin is now looking to push through technical and psychological resistance levels after rising by as much as $3,000 in April.
$10k is an important psychological barrier for Bitcoin.
Breaching this level could result in a significant move higher, according to one market analyst.
The chief analyst at Think Markets U.K, Naeem Aslam writes:
“From a technical standpoint, there is some resistance that will put the asset [Bitcoin] to the test.
“But a move above $10K could be very explosive and that would open the floor towards the $15K mark.”
A number of key analysts, investors, and advisors are predicting a major bull run for cryptocurrencies.
Just last week, a leading financial expert spoke out to predict that the cryptocurrency market cap has the potential to reach $40 trillion.
According to the chief executive officer of $1 billion crypto hedge fund, Pantera Capital Management LP, Dan Morehead, Bitcoin “is a screaming buy right now.”
During an interview with Bloomberg TV on Thursday, Morehead said about 10 percent of Pantera’s investments are now in Bitcoin.
In late 2017, Bitcoin’s value shot up close to $20,000 per coin.
Although the cryptocurrency market has since entered a stiff correction period, investors have seen the potential in the space.
But, according to Mr. Morehead, his fund’s single most substantial bet is on Icon rather than Bitcoin.
Icon lets different blockchains, or digital ledgers, talk to one another, he explains.
Morehead is predicting that Bitcoin will recover and reach record-breaking new market cap highs within 12 months.