{"id":387115,"date":"2019-06-21T23:46:08","date_gmt":"2019-06-21T23:46:08","guid":{"rendered":"https:\/\/wncen.com\/?p=387115"},"modified":"2024-06-11T10:52:39","modified_gmt":"2024-06-11T10:52:39","slug":"bitcoin-breaks-past-10000-analysts-await-mass-fomo","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-breaks-past-10000-analysts-await-mass-fomo\/","title":{"rendered":"Bitcoin (BTC) Breaks Past $10,000, Analysts Await Mass FOMO"},"content":{"rendered":"

That’s right, at long last, Bitcoin (BTC) has reached five digits in the ongoing bull run, according to TradingView.com<\/a>. The last time the cryptocurrency was in this price range was a year ago. With this strong swing to the upside, which comes just weeks after analysts en-masse were calling for a “strong correction”, many are sure that so-called “FOMO” from a retail audience will soon grace this market.<\/p>\n

https:\/\/twitter.com\/barrysilbert\/status\/60826369<\/p>\n

Bitcoin Surges Past $10,000<\/strong><\/h2>\n

The past week or two have been absolutely stellar for the cryptocurrency market. Ever since retracing to $7,450, Bitcoin has been on an absolute tear, ripping past key resistances like they were nothing more than soggy pieces of parchment paper.<\/p>\n

Just now, we saw Bitcoin surmount $10,000, seen as many as one of the most important psychological, sentimental, and technical levels in cryptocurrency. Right now, the proverbial seems to be in the court of bulls, as BTC looks poised to break past $10,200 on some exchanges.<\/p>\n

<\/p>\n

This may just be the start of a strong move higher, however.<\/p>\n

More specifically, many see a move past $10,000 as a validation of Bitcoin\u2019s revival, especially after the 80%+ seen during yesterday. Or as Fundstrat Global Advisors\u2019 Thomas Lee explained in a tweet<\/a>, \u201c[$10,000] will see FOMO from those who gloated about the 90% crash in BTC [\u2026] and those who saw Bitcoin dead as forever.\u201d<\/p>\n

Indeed, during 2017\u2019s rally, all prominent traders and mainstream news outlet alike asserted that $10,000 was the<\/em> level to keep an eye on. More importantly, $10,000 also acted as a key level of resistance and support during 2018\u2019s tumult.<\/p>\n

The importance of a five-figure Bitcoin has led many to claim that once BTC breaches $10,000, all proverbial hell may break loose. In a recent tweet, Tyler Winklevoss, the (purported) Facebook pioneer turned Gemini chief, claimed<\/a> that once the digital asset surmounts the key level, \u201cyou can bet it\u2019s going to break $15,000.\u201d<\/p>\n

Related Reading:\u00a0Crypto Exchange Gemini On the Rise After CBS Airs Bitcoin Feature<\/a><\/h6>\n

$15,000 \u2014 just under 50% higher than current levels \u2014 may just be the tip of the iceberg though. According to Lee, once Bitcoin reaches $10,000, \u201cLevel 10\u201d FOMO<\/a>\u00a0will grace this market, which last occurred when BTC blipped above $4,500 in late-2017. If history is any guide, the cryptocurrency market will shoot even higher once $10,000 is breached.<\/p>\n

In a recent podcast with\u00a0Binance\u2019s\u00a0chief financial officer,\u00a0Wei Zhou, Lee surprisingly\u00a0opined<\/a> that there will be a \u201cfast and furious\u201d move to $20,000 following a break and close above $10,000. And from there, Bitcoin will double in the next five months, reaching $40,000 in a jaw-dropping move.<\/p>\n

It remains to be seen whether this will occur though, as BTC presumably needs to close a weekly candle above five figures as bullish confirmation.<\/p>\n

Featured Image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"
That’s right, at long last, Bitcoin (BTC) has reached five digits in the ongoing bull run, according to TradingView.com. The last time the cryptocurrency was in this price range was a year ago. With this strong swing to the upside, which comes just weeks after analysts en-masse were calling for a “strong correction”, many are sure that so-called “FOMO” from a retail audience will soon grace this market. https:\/\/twitter.com\/barrysilbert\/status\/60826369 Bitcoin Surges Past $10,000 The past week or two have been absolutely stellar for the cryptocurrency market. Ever since retracing to $7,450, Bitcoin has been on an absolute tear, ripping past key resistances like they were nothing more than soggy pieces of parchment paper. Just now, we saw Bitcoin surmount $10,000, seen as many as one of the most important psychological, sentimental, and technical levels in cryptocurrency. Right now, the proverbial seems to be in the court of bulls, as BTC looks poised to break past $10,200 on some exchanges. This may just be the start of a strong move higher, however. More specifically, many see a move past $10,000 as a validation of Bitcoin\u2019s revival, especially after the 80%+ seen during yesterday. Or as Fundstrat Global Advisors\u2019 Thomas Lee explained in a tweet, \u201c[$10,000] will see FOMO from those who gloated about the 90% crash in BTC [\u2026] and those who saw Bitcoin dead as forever.\u201d Indeed, during 2017\u2019s rally, all prominent traders and mainstream news outlet alike asserted that $10,000 was the level to keep an eye on. More importantly, $10,000 also acted as a key level of resistance and support during 2018\u2019s tumult. The importance of a five-figure Bitcoin has led many to claim that once BTC breaches $10,000, all proverbial hell may break loose. In a recent tweet, Tyler Winklevoss, the (purported) Facebook pioneer turned Gemini chief, claimed that once the digital asset surmounts the key level, \u201cyou can bet it\u2019s going to break $15,000.\u201d Related Reading:\u00a0Crypto Exchange Gemini On the Rise After CBS Airs Bitcoin Feature $15,000 \u2014 just under 50% higher than current levels \u2014 may just be the tip of the iceberg though. According to Lee, once Bitcoin reaches $10,000, \u201cLevel 10\u201d FOMO\u00a0will grace this market, which last occurred when BTC blipped above $4,500 in late-2017. If history is any guide, the cryptocurrency market will shoot even higher once $10,000 is breached. In a recent podcast with\u00a0Binance\u2019s\u00a0chief financial officer,\u00a0Wei Zhou, Lee surprisingly\u00a0opined that there will be a \u201cfast and furious\u201d move to $20,000 following a break and close above $10,000. And from there, Bitcoin will double in the next five months, reaching $40,000 in a jaw-dropping move. It remains to be seen whether this will occur though, as BTC presumably needs to close a weekly candle above five figures as bullish confirmation. Featured Image from Shutterstock<\/p>\n","protected":false},"author":497,"featured_media":381765,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,6664,2887,3504],"class_list":["post-387115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-crypto","tag-market","tag-price"],"acf":[],"yoast_head":"\nBitcoin (BTC) Breaks Past $10,000, Analysts Await Mass FOMO<\/title>\n<meta name=\"description\" content=\"That's right, at long last, Bitcoin (BTC) has reached five digits in the ongoing bull run, according to TradingView.com. 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