During the holidays, Bitcoin (BTC) fluctuated in the range of $ 7,000-7,700, failing to exceed the $ 7,500 threshold. The new year brought a positive push for the price, and during the day of December 7, Bitcoin managed to exceed $ 8,000. Currently, cryptocurrency is trying to exceed the $ 8100 threshold, fueling analysts’ optimism.
We’re heading for $ 10,000
For example, Bill Charison recently mentioned that gold and Bitcoin charts have evolved in a similar way. He points out that, if the trend continues, the BTC could reach over $ 10,000 in February. As the rewards half event approaches, the price may continue to rise.
The CryptoHamster trader recently noted that analyze based on the volume balance of Bitcoin – an indicator that “uses volume flow to predict price changes” indicates an upward trend in price.
Another analyst, Velvet, a posted a graph illustrating Wyckoff’s accumulation model. He suggests that this technical analysis shows that Bitcoin will exceed $ 9,000 and maybe even $ 10,000 by the end of January.
Analysts’ optimism is fueled by the growth of altcoins
The price increase of Bitcon has provided a positive boost for the other cryptocurrencies, with percentages between 2 and 8%.
The best performance belonged to Dogecoin (DOGE), which increased by 17.8%. Monero (XMR) increased 8.6% and Dash (DASH) 11.5%. Ether (ETH), the largest altcoin on the market, increased 3% more modestly to reach $ 143.
Currently, the total valuation of the crypto price has exceeded $ 210 billion.
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