Bitcoin Price May Hit $9,600 as Soon as It Overcomes This Level: Major Analyst

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Sat, 07/11/2020 - 11:40
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Yuri Molchan
Prominent crypto analyst Michael van de Poppe has shared his short-term forecast on altcoins and Bitcoin price on Twitter
Bitcoin Price May Hit $9,600 as Soon as It Overcomes This Level: Major Analyst
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Michael van de Poppe (aka ‘Crypto Michael’) has shared his take on the Bitcoin price movements that may happen in the short term, adding that until BTC surpasses the $10,500 level, it would be ‘playground time’ for altcoins.

‘Breakthrough above $9,300 could provoke a higher rise'

The analyst reminded the community that Bitcoin is still trading slightly higher than the $9,000 level, in the $9,250 zone.

TV btc
Image via TradingView

He believes that a break above $9,300 could take Bitcoin higher – to the $9,600 mark.

BTC
Image via Twitter

Earlier this week, Bitcoin price already managed to rise to the $9,400 zone but stayed there just for one day, coming down after that.

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‘Playground time for altcoins’

‘Crypto Michael’ also pointed out that while Bitcoin is hanging in the range between $8,500 and $10,500, it is the time of opportunities for altcoins and that it could last for several months longer - until BTC breaks out of the range.

Recently, one of altcoins, DOGE, skyrocketed by a hundred percent of its price after a few viral DOGE videos got spread on TikTok.

Some in the community believe that the altseason has already arrived, others, Binance CZ among them, reckon that it is going to come soon.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.