Hiptoro
  • Entertainment
    • Celebrities
  • Sports
    • NBA
    • WWE
    • NFL
  • Movies
  • TV Shows
  • Anime
  • Gaming
  • Technology
No Result
View All Result
  • Entertainment
    • Celebrities
  • Sports
    • NBA
    • WWE
    • NFL
  • Movies
  • TV Shows
  • Anime
  • Gaming
  • Technology
No Result
View All Result
Hiptoro
No Result
View All Result

Bitcoin price surges; analyst makes dire warning against BTC optimism

by Kanishka
6 years ago
in News
Reading Time: 2 mins read
0
Bitcoin price surges

Bitcoin price surprised investors this week as it hit a new high at $8.400  from sub $6,000.

Outline
  • Bitcoin price surge unsustainable
  • Bitcoin price could hit $100K

An analysis article by Darren Parkin of Coin Rivet, however, noted that the surprising surge from what seemed like a quagmire level of resistance at $5900 “is nothing short of remarkable”.

Bitcoin price surge unsustainable

Bitcoin price surges
Image Coindesk

Week-on-week, Bitcoin rose to $8,100 from $4,000 on May 14. Parkin, however, said that that there is a general consensus that BTC will plummet soon.

[fvplayer id=”1046″]

Parkin wrote:

A near-vertical spike has pushed through every level of resistance since, but it was batted back abruptly from $8,400 – a mark which has been a key level of resistance in the past. The sheer speed of the rise seems an unhealthy path to be on for a cryptocurrency still recovering from a dramatic slump which saw it crumble away from what had been a steady sideways movement around $6,400 for much of 2018. Most sensible thinking would see this astonishing breakout as more of a manipulated market moving to test the waters and see what is up there in the heights that haven’t been reached for more than a year.

Parkin, however, noted that as to when a possible pullback will take place remains a topic of discord

“Plenty of talk takes us to $10k and beyond before a fall, but there are also plenty of astute assumptions that the decade-old digital asset could find itself worth a couple of thousand dollars before a period of consolidation returns it to this week’s levels,’

Bitcoin price could hit $100K

Bitcoin Price could hit $100K

ADVFN and Online Blockchain plc. CEO Clem Chambers, meanwhile, expects bitcoin price to reach $100K USD/BTC soon amid several factors, including the rising tension between the US and Iran.

BTC, he said, could surpass its December 2017 high at over $20,000 as the digital currency becomes increasingly useful

“If there was a war of any shape or form, the value of crypto will just go through the roof. I mean, America gets in a war with Iran, bitcoin will be $100,000 a coin,” he said.

Tags: BitcoinBitcoin 2019Bitcoin priceBitcoin Price AnalysisBTC

TRENDING NOW

Shubhanshu Shukla

Who is Shubhanshu Shukla? All About the Axiom Mission 4 Astronaut

June 27, 2025
Peggy Annette Whitson

Peggy Annette Whitson: Who Is The Only Female Astronaut In Axiom Mission 4?

June 27, 2025
Dierks Bentley

Dierks Bentley’s Bio: Age, Early Life, Career, Net Worth

June 21, 2025
Jordon Hudson

Who is Jordon Hudson? Meet Bill Belichick’s 24-Yr-Old Girlfriend

June 21, 2025
Greg Grunberg

Greg Grunberg’s Wiki: Age, Bio, Career, Net Worth

June 21, 2025
Layla Taylor

Who is Layla Taylor? All About ‘The Secret Lives of Mormon Wives’ Star

June 21, 2025
hiptoro logo
  • Contact Us
  • Disclaimer
  • Copyright
  • About Us
  • Write for Us
  • Ethics Policy
  • Fact Checking Policy
  • Terms and Conditions
  • Privacy Policy


© 2023 Hiptoro Private Limited.

No Result
View All Result
  • Entertainment
    • Celebrities
  • Sports
    • NBA
    • WWE
    • NFL
  • Movies
  • TV Shows
  • Anime
  • Gaming
  • Technology