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BREAKING: Bitcoin Price Surges Above $9,000
The BTC price has surpassed $9,000 for the first time this year, thus reaching its highest level since April 2018. The bulls are officially back in the game with the $10,000 price tag appearing to be the next target.
??? pic.twitter.com/E8oXP4QICU
— Dovey Wan ? ? (@DoveyWan) May 30, 2019
The sudden rally turned out to be just a flash in the pan, so the bulls hardly managed to celebrate yet another milestone. At the time of writing, the number one cryptocurrency is trading at $8,717.72, according to CMC data.
Alex DovbnyaTrees don’t grow to the sky
While Bitcoin’s volatility reaches new highs, billionaire investor Mike Novogratz, who also happens to be a huge crypto proponent, recently told Bloomberg that he expects the BTC price to consolidate in the $7,000-$10,000 range, suggesting that there is not much room for growth.
On a go-forward basis, Bitcoin probably consolidates somewhere between $7,000 and $10,000. You know, trees don’t grow to the sky.
Don’t underestimate FOMO
Still, he didn’t completely rule out the possibility of Bitcoin going higher than $10,000 since “excitement and momentum” could serve as a great catalyst for the coin’s growth.
If I’m wrong on that, I think I’m wrong to the upside, that there’s enough excitement and momentum that it could carry through.
As reported by U.Today, Fundstrat CEO Tom Lee estimated that the $10,000 would trigger the highest degree of FOMO (Level 10) when retail investors start buying bags of Bitcoin in droves. Hence, one could expect a much bigger push.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Arman Shirinyan
Dan Burgin
Vladislav Sopov