Cryptomustar
Wednesday, May 18, 2022
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
Cryptomustar
No Result
View All Result
Home Bitcoin

Bitcoin Would Rocket to $20k if It Were to Breakout Today

by admin
October 17, 2020
in Bitcoin
0
These 3 Factors Suggest Bitcoin May Soon Push Towards $11,250
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter



  • Bitcoin’s price has been struggling to gain any serious momentum over the past few days
  • This has come about due to the stock market’s sideways trading, which is still holding heavy influence over that of BTC
  • The cryptocurrency is facing some heightened selling pressure due to bearish developments within the market, but bulls have been absorbing the heavy influx of sell orders
  • Where the entire market trends next may depend largely on Bitcoin
  • One analyst is noting that he believes it is coiled up to make a big move in the near-term
  • He even notes that this may be the “calm before the storm” and that a serious upside movement could be right around the corner

Bitcoin and the entire cryptocurrency market are currently trading sideways. Both bears and bulls have been struggling to take control of the market’s near-term outlook, which may be due to the stock market’s lack of momentum.

One analyst is noting that Bitcoin could currently be caught within the “calm before the storm” – a sentiment that indicates a big move is coming.

The same analyst further stated that he believes Bitcoin would rocket straight up towards $20,000 if it were to breakout today.

Bitcoin Struggles to Gain Momentum as Entire Market Consolidates

At the time of writing, Bitcoin is trading up marginally at its current price of $11,350. This is around the price at which it has been trading throughout the past few days.

Despite the stock market showing signs of weakness and altcoins drifting lower, Bitcoin still has significant buying pressure due to the bullish developments surrounding its adoption as a reserve asset amongst major corporations.

As it continues consolidating, most major altcoins have been slowly drifting lower as investors try to de-risk their portfolios.

Until BTC pushes higher, this trend will likely persist in the near-term.

BTC Would Rocket to Its All-Time Highs if It Broke Out Now; Claims Analyst 

While sharing his thoughts on Bitcoin’s near-term outlook, one analyst explained that Bitcoin would likely surge towards $20,000 within the next 3 months if it were to breakout now.

“Calm before the storm. If BTC was to breakout today, it would most probably reach its previous ATH of $20k within 3 months,” he said.

Image Courtesy of Mohit Sorout. Source: BTCUSD on TradingView.

Unless a phase 2 stimulus package boosts the stock market and allows Bitcoin to explode higher, it is unlikely that BTC will be able to breakout until after the elections.

Featured image from Unsplash.
Charts from TradingView.





Source link

RELATED POSTS

By The Numbers: Bitcoin’s Most Volatile Day Of 2022 Compared

CFTC Chair labels Bitcoin, Ethereum as commodities

Tags: 20KBitcoinbreakoutRocketToday
ShareTweetShare

Related Posts

By The Numbers: Bitcoin’s Most Volatile Day Of 2022 Compared

By The Numbers: Bitcoin’s Most Volatile Day Of 2022 Compared

by admin
May 17, 2022
0

Bitcoin has had its fair share of highly volatile days since its inception. This comes as no surprise given...

CFTC Chair labels Bitcoin, Ethereum as commodities

CFTC Chair labels Bitcoin, Ethereum as commodities

by admin
May 17, 2022
0

Rostin Behnam, the Chair of the Commodity Futures Trading Commission (CFTC), claimed Bitcoin (BTC) and Ethereum (ETH) are commodities....

Bitcoin Spot Volume Soars, 7-Day Average Tops $10B

Bitcoin Spot Volume Soars, 7-Day Average Tops $10B

by admin
May 17, 2022
0

Data shows the Bitcoin 7-day average spot trading volume has continued to shoot up this week as trading activity...

Crypto Market Madness Leads To Surge In Bitcoin On-Chain Activity

Crypto Market Madness Leads To Surge In Bitcoin On-Chain Activity

by admin
May 17, 2022
0

The current crypto market climate has seen bitcoin on-chain activity light up like a Christmas tree. All across the...

BTC-gold ratio suggests Bitcoin is at ‘solid support’

BTC-gold ratio suggests Bitcoin is at ‘solid support’

by admin
May 17, 2022
0

The Director of Global Macro at Fidelity, Jurrien Timmer, tweeted his analysis of the current situation following Bitcoin’s sell-off...

POPULAR NEWS

4 Cryptocurrency that Blow Bitcoin Out of the Water

4 Cryptocurrency that Blow Bitcoin Out of the Water

September 25, 2020
Memoriae – Next Generation of Decentralized Cloud Storage Based on Blockchain

Memoriae – Next Generation of Decentralized Cloud Storage Based on Blockchain

July 1, 2021
Apollo CBDC: The CBDC Platform that can Power Economies

Apollo CBDC: The CBDC Platform that can Power Economies

October 6, 2020
Stratus: The Most Feature Rich Social Media Network

Stratus: The Most Feature Rich Social Media Network

September 9, 2020
Binance Coin (BNB) erupts above $270 as the whole Smart Chain ecosystem soars

Binance Coin (BNB) erupts above $270 as the whole Smart Chain ecosystem soars

February 19, 2021

EDITOR'S PICK

Bitcoin Spot Volume Nose Dives To Lowest Since Summer Selloff

Bitcoin Spot Volume Nose Dives To Lowest Since Summer Selloff

January 20, 2022
Market Wrap: Bitcoin Slips to $30.8K While Investors Plow BTC Back Into DeFi

Market Wrap: Bitcoin Slips to $30.8K While Investors Plow BTC Back Into DeFi

January 26, 2021
Bitcoin Declines from Resistance; Approaching $40K Support

Bitcoin Declines from Resistance; Approaching $40K Support

September 28, 2021
Bitcoin, Ethereum, Crypto News and Price Data

Bitcoin, Ethereum, Crypto News and Price Data

September 28, 2021

About

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Follow us

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Litecoin
  • Market
  • Press Release
  • Regulation
  • Uncategorized

Recent Posts

  • ElonCoke (ELNCO) Announces Listing on PancakeSwap and Upcoming P2E Game
  • You won’t believe what cannabis company Melee Dose did with their Mutant Ape Yacht Club #4573.
  • Sylvester Stallone NFT “Golden Signature” Exclusive Edition Coming to OpenSea
  • Introducing Relation, A Multi-chain Social Graph Data Explorer On Web3
  • About Us
  • Privacy Policy
  • Contact Us

© 2020 cryptomustar.com

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO

© 2020 cryptomustar.com

  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • yfBetayfBeta(YFBETA)$4.27-0.10%
  • IDLEIDLE(IDLE)$1.44-12.39%
  • WPP TokenWPP Token(WPP)$0.006826-3.49%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Werewolf CoinWerewolf Coin(WWC)$0.098082-2.58%
  • PolkaBridgePolkaBridge(PBR)$0.439784-6.92%
  • Dev ProtocolDev Protocol(DEV)$1.76-16.14%
  • EvidenZEvidenZ(BCDT)$0.122949-3.85%