Bitcoin is all set to breach the 11K mark, $100K is definitely in sight
The crypto market was buzzing about a possibility, and finally, that happened. Bitcoin breaches the 10,000 mark and made its way to 10,900. Indeed, it’s a milestone which crypto traders were betting about.
So far what we know about this development:
1) Bitcoin has breached the 10K mark last Saturday.
2) It has not shown any sign of slowing down and has successfully reached 10,900.
3) With this high-profile surge, the market capitalization stands at $23 billion.
However, even though this surge is good news for the crypto market, industry experts mention that the price is way out of the upper Bollinger Band. Hence, traders should be extremely while they invest at this level. A correction is definitely expected due to profit booking before it finally breaches the 11K mark. In this year there have been consolidations, but we have not seen any corrections. So, one should not be surprised if the correction happens.
Another expert strongly suggested that as the Bitcoin has entered its fourth parabolic phase, $100,000 target is definitely in sight and a probability. With the high volume of BTC, Bitcoins dominate 50 percent of the overall crypto market. BTC is not the only cryptocurrency that is gaining, Ethereum and Binance Coin have also made significant gains. In fact, ETH has breached the $300 mark.
Hence, it could be said that the current phase is one of the brightest phases in the cryptocurrency market, and with this phase, the market is all set to grow.