February 1, 2023

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 beentend to round numbers. $ 1 is important. $ 100 - be sure to follow this level. $ 1000 - whistle everyone upstairs. According to the famous cryptocurrency investor and commentator, the importance of these round numbers, especially in the nascent market, is hard to overestimate.

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 exceeding the leading cryptocurrency level of $ 10,000 is an important point in terms of price movement analysis. His opinion is shared by several other cryptocurrency market experts.

Tom Lee of Fundstrat Global Advisors has published an analysis of his company stating that $ 10,000 is the level that can be expected in the near future.

As soon as BTC exceeds $ 10,000, FOMO will take over the market, which happened the last time.

In November, Bloomberg wrote that moving prices from a four-digit value to a five-digit value is of great importance:

“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 Commodity Strategist BloombergMike McGlown expressed the opinion that ideal conditions are created for cryptocurrency in terms of “basic premises” - mass acceptance 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. ”