Bitcoin rises above $ 10,000

Kraken exchange analysts, in an address to VIP clients, said that Bitcoin is preparing to enter a growth phase after twoand a half years of decline. Expert Yuval Gov said in which case a coin will rise in price to $ 11,000.

On the night of May 8, the price of bitcoin rose to $ 10.067, then it fell to the current mark of $ 9850. Within 24 hours, the coin went up by 6%, and after the March recession to $ 3800 - by 160%. The daily trading volume of the asset grew by 21% and reached $ 62 billion. BTC's share in the cryptocurrency market increased to 67.9%.

Bitcoin price getting ready to break downthe macro trend that it entered after reaching $ 20,000 in December 2017. This was reported by one of the largest exchanges Kraken in a letter to VIP-clients. Her analysts predict that the cryptocurrency exchange rate can go into a phase of long-term growth and establish a new local maximum. This will help increase hashrate and slow the spread of coronavirus infection, reports Dayli Hodl.

However, there is another scenario. Experts said that the resistance in the form of a downtrend can withstand, and in this case, BTC will start to get cheaper. Probably, its price will fall to the lower border of the triangle, which runs around $ 6,000, predicted in Kraken.

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Another opinion of the portal analystCryptopotapo Yuval Gov. He expects Bitcoin to rise in price to $ 11,000. This will happen if its rate can gain a foothold above the psychological resistance level of $ 10,000. However, $ 10,300 and $ 10,500 marks may hinder growth, the expert said.

He added that a level of $ 10,000 could be sustained,and in that case BTC will become cheaper. Its price runs the risk of dropping to $ 9800, and then starting to decline to the support level of $ 9400. However, growth is more likely to fall, future halving can help this, Gov emphasized.

Analyst Yashu Gola warned on the eve ofa possible reduction in bitcoin prices after halving. It can fall to $ 8500 or even to $ 6300, as the coin is now overbought. The same concerns were expressed by the founder of Morgan Creek Capital Management, Mark Yusko, but at the same time, he predicted an increase in the value of the first cryptocurrency to $ 100,000 in 2021, and up to $ 500,000 in the future.

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