Some analysts believe that once Bitcoin reaches $14,000, historical records should be expected soon thereafter.
Bitcoin continues to break records in 2020, with its value reaching $13,500,000 in the early hours since Sunday (25). Most of the alternative cryptomorphs have followed the upward movement, bringing the market for cryptomorphs to a total market capitalization of $400 billion.
Bitcoin’s bullishness last week caught the eye of Bitcoin Bank reviews those following the crypt market and outsiders. The country’s largest news sites covered the currency movement.
Analysts believe that once Bitcoin reaches $14,000, the market will enter a „different regime in terms of volatility, momentum, participation and so on.
The reason is that this was the point where the bitcoin price indicator closed in December 2017, and also where the trend peaked during the 2019 boom. The interactions that the digital currency had at $14,000 suggest that a break and decisive maintenance above that level would mark a change in the market.
„As soon as the BTC exceeds $14k, we will probably be in a different regime in terms of volatility, retail share and so on. Many things that have worked in recent months may not work anymore and vice versa. $20k will take this regime to a whole new level. Just a guess. We’ll see.“
Some analysts believe that once Bitcoin reaches $14,000, historical records should be expected soon after that.
Kyle Davies, co-founder of the Three Arrows Capital cryptomore-fund, commented recently:
„When we break $12k, who in your name will sell at $15k. And since nobody sells for $15k, who in your name would sell for $20k…“