From Coindesk
Bitcoin looks set to test the $10,000 mark soon, as per technical analysis, although some investors fear the Lunar New Year may play spoilsport.Read more: https://www.coindesk.com/bitcoin-sees-bull-reversal-ahead-of-chinese-new-year/Ahead of New Year holidays (starting Feb. 15), Chinese and South Koreans often exchange bitcoin for fiat currencies (to fund increased spending), and bitcoin (BTC) tends to drop in the run-up to the event.
Boosting such fears this year is bitcoin's (BTC) recent inability to move above $9,000 in a convincing manner. Since Feb. 10, the cryptocurrency has been restricted to a narrow range of $8,000 to $9,000, shows CoinDesk's Bitcoin Price Index (BPI).
Still, historical data indicates the probability of bitcoin reporting gains this month is high.
I think this bull trend is coming from all the good news out of the west and the SEC's do no harm approach to crypto regulation. We are going to see a crackdown on shadey ICOs but I don't think that is a bad thing. Let the good times roll. When the institutional money flows in we are going to see staggering new heights.
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Let's not forget LTC. This was Litecoin's Valentine's Day present to me! It really does love me!!!
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I think $10,000 is our next hard resistance level. From a psychological perspective it makes sense. People were astonished that it dipped below $10,000 and then once it did, it just dropped. Hopefully we will soon break $10k, though. I don't expect to see a jump to $20k in the short term, but we will get there with natural growth, potentially by summer.
I am also excited that the SEC is starting to crack down more so on ICOs - hopefully we will start to see less scam-led projects.
Thanks for sharing!
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Just a little better than usual! Hopefully market will recover to 20k!
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This is the most important & informative post for all steemians.We can get a good tricks & experience from this blog.
Thanks you so much.
@ Resteem &follow has been done.
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good post
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