June 16, 2024

Overcoming the $ 10,000 level is an important step for BTC

Overcoming the $ 10,000 level is an important step for BTC

For one reason or another, bitcoin investors have long sought rounding numbers.$100 – Be sure to keep an eye on this level.According to a well-known cryptocurrency investor and commentator, the importance of these round numbers, especially in the nascent market, cannot be overstated.

A $ 10,000 return, and then $ 20,000 on a macroeconomic scale, means that Bitcoin has fuel to go higher and then reach another important round number.

In a podcast with Luke Martin, Suu Ju from Three Arrows Capital noted that “round numbers in the cryptosphere are even more important because everyone thinks about them.”

Zhu added that the leading cryptocurrency's surpassing the $10,000 level is an important momentHis opinion is shared by several other crypto market experts.

Tom Lee of Fundstrat Global Advisors has published an analysis of his company claiming that $10,000 is a level that can be expected to touch soon.

Once BTC crosses $10,000, FOMO will take over the market, which is what happened last time.

In November, Bloomberg wrote that the move from four-digit to five-digit prices is significant:

“Bitcoin is facing serious resistanceat $ 10,000, so many investors have difficulty evaluating it, given the ongoing debate about whether BTC is an asset or a currency. To confirm growth and profit, the asset simply needs to overcome this barrier. ”

Senior Commodities Strategist at BloombergMike McGlone expressed the opinion that ideal conditions are being created for cryptocurrency in terms of “basic premises” — mass adoption and emission limit:

“Among the cryptographic assets of bitcoinwins the implementation race and becomes increasingly scarce, which contributes to a price increase. There is a high probability of supporting the price increase in the very near future. ”