CNBC Indonesia - Bitcoin prices are moving wild again and showing a strong trend. At the beginning of this week the price of Bitcoin had almost touched US $ 9,000 per coin which was the highest value this year.
According to Bitcoin Price Index data, Bitcoin has touched the price of US $ 8,937 per coin, equivalent to Rp. 128,421,115 (assuming US $ 1 = Rp. 14,393). That is the highest level since intraday high (highest daily level) on May 11, 2018.
At around 09:50 Singapore time, the price of bitcoin rose more than 9% in 24 hours and traded around US $ 8,788.87.
In general, cryptocurrency has seen updates in recent weeks and since the beginning of the year the price of Bitcoin has gone up by more than 140%. Even so, the price of Bitcoin today hasn't touched the all-time high of US $ 20,000 per coin at the end of 2017.
Reporting from CNBC International, several large companies have experimented or issued products related to digital currencies. For example, Taiwanese smartphone maker HTC released a telephone that focused on helping people save their digital coins, while Facebook reportedly made its own cryptocurrency.
Other cryptocurrency also rose higher on Monday. Ethereum, the second largest cryptocurrency based on value, rose more than 7% from the previous day at around 9:50 am HK / SIN. source
Bitcoin Will Touch $ 10,000 (IDR 144 Million) According to Some Analysts
Bitcoin (BTC) has just come out of its short-term consolidation pattern, moving past the main Resistance level around the price of $ 8,300 to $ 8,400.
Some time ago, BTC moved at the level of $ 8,540 after having touched the level of $ 8,580 just a few minutes before. Many believe that this is an indication of ongoing Bullish momentum, which means that the increase may continue.
According to some analysts, Bitcoin that is closed above and around the level of $ 8,400 in daily or weekly resolutions will be truly monumental to be Bullish.
Josh Rager, a team member at the level and popular analyst, recently noted that if Bitcoin closed above the $ 8,300 level in the next few hours, he would fully expect to go to the level of $ 9,600 to pay off. And interestingly, he is not the only person who looks like this.
In the recent twittter, productive analyst Crypto Rand said that he saw a clear pattern playing for Bitcoin.
According to Cuitan Rand, he expects the BTC to trade in a triangle pattern for the coming month, then break up to potentially encourage a favorable $ 10,000 level environment.
As shown above, the only major obstacle that keeps BTC from achieving such an achievement is the $ 8,300 band to $ 8,400.
Even a major industry executive has joined in calling for a Bitcoin to reach $ 10,000, equivalent to Rp. 144 million.
Speaking to the CryptoBriefing industry publication, Alex Mashinsky, the initial developer of Voice Over Internet Protocol and founder of the cryptocurrency Celsius Network founder, revealed that he expected BTC to immediately reach $ 10,000.
At the time of the press, the price of Bitcoin rose 8.9% within 24 hours, occupying a price of Rp 125 million according to CoinGecko. Not only BTC, almost all altcoins also experienced a significant increase, XRP rose 7.52% and Ethereum rose 7.44%.
Alex saw the fact that the Long-Short ratio on certain platforms was still Short-Heavy, meaning that there were people on Short's side who still hadn't closed their positions. Thus, he concluded:
"So I think we will go above ten thousand before we see a correction. Because these people will be blackmailed. We haven't seen the pain. We haven't seen them close it yet. They have to close, and when they close it, they buy bitcoin. "
The increasing momentum of Bitcoin in the short term has begun to slow down, but we have to wait for daily and weekly closures in the coming hours to determine this market momentum. Let's wait and see.
Hopefully this article post will be a motivation for me and my colleagues to continue to be able to express through steemit as a place to experiment, especially in terms of writing and other content.
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