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

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.

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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.

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”

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

— Thomas Lee (@fundstrat) June 21, 2019

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.

$BTC

About to head to bed but consolidation like this has led to continuation in the uptrend

At this point in time, would like to see price continue to move up to $10,000

From there, I start to get cautious with profit taking and psychology resistance

Have a great night/day! pic.twitter.com/wthvUoVwSV

— Josh Rager Read more