Bitcoin [BTC] Price Analysis: Stays above $ 11,000 as confidence increases


Bitcoin's price performance has been impressive. By passing $ 9,500 and keeping prices above $ 10,500, the cryptocurrency scene is bullish.

Still, Bitcoin as an asset means different things to different people. Others are positive and predict that BTC prices will go to the moon in the coming months.

Regardless of the general discourse, there are true believers who are betting everything on Bitcoin. Seeing the pace of its evolution since its launch 11 years ago, the market is not only maturing, but continues to receive capital from retailers and believers.

Bitcoin can easily rise to $ 100,000

Blockstream's Samson Mow is confident that Bitcoin's price volatility means the coin can easily recover to $ 100,000 in the coming months. Give an example above, in a matter of weeks, Bitcoin's price skyrocketed from around $ 650 to around $ 19,500 triggered by various fundamentals.

Cameron Winklevoss confidence

Like Samson, the co-founder of Gemini, Cameron Winklevoss He turned to Twitter to express optimism about Bitcoin's prospects, citing increased sophistication, market maturity, and liquidity.

It also drew similarities between BTC in 2017 and the current state of affairs. Unleashing these waves of optimism are critical events.

Greenlights from the US OCC

Recently, the US OCC said that national banks and savings associations were free to guard cryptocurrencies, including Bitcoin.

What this means is that whales and HNWIs with crypto assets now have a choice.

They can choose Coinbase or select any of the regulated banks or national savings as a refuge for their precious gems.

Bitcoin price analysis

At the time of writing this article, Bitcoin price is exceeding $ 11,000, adding 16 percent against the dollar, but behind the equally resurgent ETH.

From the daily chart, the arrangement of the candles suggests a bull scenario. The uptrend is clear and BTC prices remain above key support levels. Bitcoin's bullish bars are bands along the top BB.

Despite the fact that prices also fluctuate, with a certain degree of overvaluation from July 28 to 30, the bars closed above the upper BB, the operators are confident of the continuation of the upward trend.

Still, bears can pour cold water on their projections if Bitcoin's price reaches (or less) $ 10,500 in a new test.

If this is accompanied by above-average trading volumes, BTC prices could end up dropping to $ 10,000, triggering a wave of gains that would generate more fuel discharges.

On the other hand, In a continuation of the uptrend, BTC bulls should target highs of $ 14,000 or June 2019.

Graphic courtesy of Trading View

Disclaimer: The opinions and opinions expressed are those of the author. This is not investment advice. Do your research.

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