Expectations of the bull market started to increase with the increase of Bitcoin over $ 10,000
Bitcoin recently managed to break the $10,000 threshold. Other altcoins under the leadership of Bitcoin also saw huge increases.
Following these good performances there is a question in mind:
What’s next for the crypto money market?
Leader cryptocurrency surpassed the $ 10,000 limit at midnight without any difficulty. Following this move by Bitcoin, a well-known market analyst, Josh Rager, said the move would start a new bull run and the Bitcoin price could go up to $ 60,000. Rager also analyzes past market movements and claims that if the cycle continues, Bitcoin will reach $ 78,500 by 2022.
In an analysis he shared with Rager and his followers on cryptocurrency investors known as Redxbt on Twitter, he said it was possible that Bitcoin would increase by 87% after this level. If the analyst’s estimate comes true, Bitcoin’s next target is seen as $ 18,000.
On the other hand, Fund Lee co-founder Tom Lee recently announced in a statement that Bitcoin’s $ 10,000 limit would start FOMO (fear of losing).
Ethereum, EOS, Tron
Looking at the dollar rate converted to cryptocurrencies through decentralized applications, the Tron network is ahead of the EOS and Ethereum networks.
According to DappReview, he has acted in the last 24 hours on the $ 13.7 million Tron DApp. This figure is $ 12.30 million in EOS and $ 7.2 million in Ethereum.
In addition, the Ethereum showed a great performance like Bitcoin, which rose 7.52% in the last twenty-four hours, surpassing the $ 300, a key level for ETH.
Accurate Estimation of BitMEX CEO
Arthur Hayes had estimated $ 10,000 when the market was bad.
We can use the word great to describe Bitcoin’s latest price movements. For the first time since 2017, the cryptocurrency market has been showing such a graph under the leadership of Bitcoin. At the time of writing, Bitcoin prices were at 10,700, an increase of 10.40% in the last twenty-four hours. In this article, we shared with you the news that Bitcoin has exceeded $ 10,000. Of course, made the faces of both investors and crypto coin owners laugh.
In addition to Bitcoin, Ethereum managed to draw attention by crossing the $ 300 threshold. The price of ETH, which increased by more than eight percent in 24 hours, reached 307 dollars.
Earlier this year $ 10,000 seemed to be a dream for Bitcoin. In January, the price of Bitcoin fell below $ 4,200. These long-term negative movements have led many to comment that “Bitcoin is dead and going to zero”.
Half Accurate Prediction
Hayes made his prediction for late 2019. However, Bitcoin managed to break the $ 10,000 psychological limit in mid-June. So for Hayes’ prediction, we can say “half-right guess”. However, while most analysts in the market estimate up to $ 5,000 for Bitcoin, it is important to remember that Hayes was successful in this prediction.