Bitcoin Hits $10,000; Heads to $11,000

Bitcoin $10,000 June 2019
Bitcoin Hits $10,000 After 13-Months, Tests $11,000

After months of price dip and little upward movement, the cryptocurrency community in Nigeria and globally went agog as Bitcoin price hit $10,000 for the first time in 13 months; in the early hours of Saturday June 22/19. Followed up by a surge to $11,000 in less than 24 hours.

This milestone comes in the aftermath of a slow but steady rise in recent weeks, from a year start price between the $3k and $4k region. The number one cryptocurrency is currently up by 120% in the first six months of 2019, performing better than other traditional assets and duly rewarding holders for their patience.

Asides the price increase, Bitcoin and the cryptocurrency market has set new records:

  • Bitcoin is now the 8th largest currency in the world bigger than the monetary base of most countries
  • Bitcoin hash rate (total computing power of the bitcoin network) hit new all-time high
  • Bitcoin as an asset and traditional investment instrument is up by about120% this year
  • According to CME, Bitcoin Futures Institutional interest also reached all-time high
  • Total cryptocurrency market capitalization currently stands at over $320 billion
  • Recent survey data by Kaspersky lab shows that 19% of people globally have purchased cryptocurrency

Altcoins Follow Up

Altcoins – Ethereum (ETH) broke the $300 barrier to currently trade at $313 per coin. NEO the eighteenth largest crytpocurrency by market cap saw a surge up by 30% in 30 minutes.

Other altcoins, XRP, BCH, ADA, TRX all post greens between 3% to 20%.

Market Reactions

In classic FOMO trend following the rally, interest by non-coiners has considerably grown with many looking to get on the rally train. Mainstream media outlets aren’t left out of the euphoria as Bitcoin keeps making major headlines on financial streams worldwide.

For the cryptocurrency community, most focus on taking profits as reward for holding, while they anticipate more price rallies with eyes on LAMBO.

Bullish Talks

In response to Bitcoin’s $10k surge, renowned and professional trader Peter Brandt tweeted that bitcoin’s price is currently taking an aim at $100,000 target. As he highlighted that bitcoin’s fourth parabolic growth phase has now begun:

Bitcoin takes aim at $100,000 target. $btcusd is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a long chart in this manner. Bitcoin is a market like no other.

Brandt went on to publish a table containing BTC price growth from October 2011 to December 2017; with the data showing bitcoin increased its value by 9,765 fold.

Other commentators include; CEO of Digital Currency Group who remarked: “it looks like we are coming out of crypto winter and we’ve entered a crypto spring.”

Co-founder of blockchain investment firm Kenetic last month predicted a bitcoin price rally to as high as $30,000 by the end of this year. Another set of contributors say considering bitcoin’s 200 week moving average, this could be a last opportunity to buy below $10k.

Expert Opinions / Predictions

Analysts believe that with BTC remaining above $10k and holding its gains over the weekend, it could form a new solid level of support.

A look at previous chart patterns show the next resistance level at around $11.7k, followed by a free rally to $17k. On the other hand, if Peter Brandt’s parabola metrics play out and considering the BTC halving set for May 2020, the $100k high could come as early as Q1 of 2020.

In all, there is little doubt now that a new ATH is on the cards. What are your price predictions by end of the year?

NOTE: This publication does not serve or replace investment advice. Always Do Your Own Research (DYOR).

BUY/SELL Bitcoin on Nigeria’s premier bitcoin exchange: visit www.NairaEx.com, fast, secure, reliable.

Written By

CryptoEnthusiast, CryptoEducator, Angel Investor, Writing Pro and Techie

59
Leave a Reply

avatar
59 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
59 Comment authors
GucexmJosephMigQyrhozBradleyMipBradleyMip Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
MarcosChins
Guest
MarcosChins

tadalafil 60 mg for sale: http://tadalafilonline20.com/ tadalafil dosage

MichaelCer
Guest
MichaelCer

india pharmacy drugs: https://genericwdp.com/ generic drugs without doctor’s prescription

MichaelCer
Guest
MichaelCer

best online international pharmacies india overseas pharmacies shipping to usa

MichaelCer
Guest
MichaelCer

generic pills without a doctor prescription generic drugs without doctor’s prescription

JeffreySwene
Guest
JeffreySwene

viagra without a doctor prescription generic viagra walmart
cheap viagra online

JeffreySwene
Guest
JeffreySwene

cheap viagra online п»їviagra pills
cheap viagra online

JeffreySwene
Guest
JeffreySwene

online doctor prescription for viagra viagra amazon
buy generic 100mg viagra online

JeffreySwene
Guest
JeffreySwene

buy real viagra online cost of viagra
best over the counter viagra

StanleyUriff
Guest
StanleyUriff

paxil 20mg paxil generic

StanleyUriff
Guest
StanleyUriff

buy generic propecia buy propecia without prescription

Thomaslar
Guest
Thomaslar

buy real viagra online https://viagrapills100.com/ generic viagra walmart

Thomaslar
Guest
Thomaslar

viagra online usa https://viagrapills100.com/ viagra price

ElmerKarry
Guest
ElmerKarry

cheap ed pills cheap ed pills usa
real cialis without a doctor’s prescription

ElmerKarry
Guest
ElmerKarry

errection problems order ed pills
cheap ed pills from canada

Jasonsar
Guest
Jasonsar

http://zithromaxst.com/# buy zithromax online australia

Jasonsar
Guest
Jasonsar

http://prednisonest.com/# prednisone 5093

Jasonsar
Guest
Jasonsar

https://gabapentinst.com/# generic neurontin 300 mg

ScottJam
Guest
ScottJam

http://zithromaxproff.com/# can you buy zithromax online
buy zithromax online

ScottJam
Guest
ScottJam

https://zithromaxproff.com/# buy zithromax no prescription
purchase zithromax online

ScottJam
Guest
ScottJam

buy cefadroxil online: minocin capsules
myambutol for sale

ScottJam
Guest
ScottJam

clindamycin for sale: stromectol generic
order panmycin

Stevenhearf
Guest
Stevenhearf

best online international pharmacies india: buy prescriptions from india pharmacy india pharmacies shipping to usa

BillyNep
Guest
BillyNep

levitra pills: best ed pills top erectile dysfunction pills

Danilorot
Guest

best online dating sites
singles near me free

BillyNep
Guest
BillyNep

ed pills for sale: pills for erectile dysfunction order erectile dysfunction pills

Jamestah
Guest
Jamestah

buy generic viagra online buying viagra online without prescription buy viagra without prescription

TimothyJoutt
Guest

best free dating site for serious relationships
dating personal ads

TimothyJoutt
Guest

free chat and dating online
singles near me free

Jamestah
Guest
Jamestah

how much viagra should i take the first time? viagra without a doctor prescription viagra without a doctor prescription

Jamestah
Guest
Jamestah

https://diflucanst.com/# order diflucan online uk

Jamestah
Guest
Jamestah

https://doxycyclinest.com/# doxycycline 50mg

Jamestah
Guest
Jamestah

https://clomidst.com/# clomid purchase online

RobertTiz
Guest
RobertTiz

natural remedies for ed: medicine for erectile – treatment of ed

RobertTiz
Guest
RobertTiz

erection pills online: cheap ed pills – ed meds online

RobertTiz
Guest
RobertTiz

metformin purchase: cheap metformin – can i buy metformin over the counter in australia

CharlesEmuro
Guest
CharlesEmuro

ventolin pharmacy: ventolin for sale – ventolin 8g
how to get valtrex over the counter

CharlesEmuro
Guest
CharlesEmuro

where to buy valtrex online: valtrex without a doctor’s prescription – generic valtrex sale
valtrex tablets price

CharlesEmuro
Guest
CharlesEmuro

propecia online: finasteride – finasteride
valtrex online pharmacy india

CharlesEmuro
Guest
CharlesEmuro

ventolin canadian pharmacy: albuterol without dr prescription usa – ventolin 2018
valtrex online

CharlesEmuro
Guest
CharlesEmuro

cheap tadalafil: generic tadalafil – generic tadalafil
how to get valtrex prescription online

Donaldarous
Guest
Donaldarous

cheap erectile dysfunction: ed drugs – ed meds
natural remedies for ed

Donaldarous
Guest
Donaldarous

best medication for ed: ed pills otc – natural remedies for ed
erectile dysfunction drugs

MichaelHauth
Guest
MichaelHauth

canadapharmacyonline – ed drugs tops pharmacy or save on pharmacy

MichaelHauth
Guest
MichaelHauth

best online pet pharmacy – ed pills online pharmacy dubai or adderall canadian pharmacy

PeterLed
Guest
PeterLed

cialis tadalafil portugal buy cialis online in canada – generic cialis 20 mg tadalafil
safe buy cialis

PeterLed
Guest
PeterLed

buy cialis tadalafil uk erectile dysfunction medications – cheapest generic cialis australia
buy cialis shipping canada

Ifvctm
Guest

ivermectin 8000 – ivermectin brand name stromectol ivermectin buy

Caekaf
Guest

buy ivermectin cream – is ivermectin safe for people generic ivermectin

AnthonySwify
Guest
AnthonySwify

buy viagra generic viagra samples – viagra coupons
viagra from canada

AnthonySwify
Guest
AnthonySwify

ed pills that work better than viagra generic viagra 100mg – natural viagra
how long does viagra last