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Bitcoin Barrels Towards $10k Lifting Crypto Markets to $300 Billion

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Bitcoin train

It has been a fruitful Friday once again as Bitcoin reaches a new 400 day high of $9,800. The move has lifted total crypto market capitalization to its highest level since July 2018 as it touched $300 billion briefly.


No Signs of Stopping

Many had predicted that bitcoin would falter at the wall of resistance around the $9.6k level. As in previous movements, it ignored all correction calls and pushed even higher topping out at $9.8k a few hours ago according to Tradingview.com.

bitcoin

BTC price 1hr candles – Tradingview.com

BTC has held on to gains during Asian trading this morning and is currently priced at 00. Daily volume is back to $20 billion and market dominance has reached 58% for the king of the coins. The calls for $10k are intensifying and resistance zones above that are already being mapped out.

BITCOIN FOMO IMMINENT

At the time of writing BTC is only a whisker away from levels of mass FOMO which could drive it to new all-time highs before the year is out. Fundstrat’s Tom Lee is in agreement.

“In most markets, a ‘new high’ is needed to confirm a breakout. But with #bitcoin, when it trades at a price seen only 3% of its history, this has confirmed a new high imminent. This makes crypto different.
This ‘3%’ is $10,000.
FOMO = $10,000
Currently $250 away from FOMO”

As the gap to ATH nears 50%, bitcoin has shown incredible resilience in its comeback from the depths of crypto winter just six months ago. Back then the predictions of capitulations down to $2k were coming thick and fast. Today it is a different story with chart gurus eyeing next levels of resistance deep into five-figure territory.

Crypto trader and analyst Josh Rager has noted that the last few times BTC went into a couple of days of consolidation, the uptrend continued. He too is eyeing a move to $10k but adds that this level forms a psychological barrier where profit taking is likely to occur.

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