Bitcoin Smashes $8000, $10K Level, Analysts Target Is Now $10K.
Bitcoin has risen about 19% in just a span of 48 hours, it achieved a new 2019 high and more analysts are eyeing the $10k level anytime soon. These bullish pattern are fueled by a number of factors.
One positive news and catalyst today is that Bitfinex declared that it was able to raise $1B through private companies and industry giants. Investors confidence especially institutional investors are also on the rise, say for example, Digital Currency Group’s Grayscale declared that they easily surpassed a billion dollars in assets under management. Most of the money of course that causes this unprecedented rise is the one coming from legions of people because of FOMO. People are flocking in cause of good reasons though.
A lot of the fundamentals are lining up to support the rise in prices, more and more major retailers are now accepting cryptocurrencies. The sentiment around the market is still on the rise and it is most likely Bitcoin and major altcoins will outperform many traditional investment vehicles today.
For more of the news: https://www.ccn.com/bitcoin-price-analysts-eye-10k
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It seems like this latest BTC craze is only beginning. As more and more investors are growing weary about the equity and bond markets, they tend to channel some of their funds into cryptos and precious metals like physical gold and silver.