Crypto

Bitcoin will surpass 10 thousand dollars in 6 months!


The chances of the Bitcoin price reaching five figures in the next six months are increasing. Based on the present value of the BTC options, the crypto-currency analyst company Skew Markets announced that the leading crypto-money Bitcoin has a chances of exceeding 10,000 dollars by September, up to 4.6 percent.

Bitcoin's daily trading volume is increasing

In addition, the company is a bit of Bitcoin the possibility of achieving lower price targets. For example, Bitcoin's prospect of reaching $ 8,000 by September is just under 10 percent. However, the goal is doubled when lowered to $ 6,000, exceeding 20 percent.

Currently Bitcoin is trading at a range of $ 3,950-4,000 after breaking the $ 4,000 resistance level at the weekend shortly. The crypto currency's breaking the resistance level came amid increasing volumes. According to analyst Kevin Rooke, Bitcoin trading volume broke a new record. The analyst goes on to comment:

Bitcoin's daily trading volume is increasing. The volume has increased by about 150 percent in the last 5 months. The average daily volume has not been this high since January 2018.

Risks in crypto-currency markets are increasing

Interestingly, this is a time when Bitcoin's dominance in the market falls. According to CoinMarketCap, the market dominance of Bitcoin is 50.8 percent. In the majority of the past year and a significant portion of this year, this figure was over 53 percent. Bitcoin's market share fell from 53 percent to 51 percent in 2019.

Given the downward conditions in crypto currency markets for more than a year, the sudden drop in Bitcoin market dominance rates are understandable. However, this data does not prevent the famous crypto bulls from making bold predictions. For example, Tom Lee, Fundstrat, claims that Bitcoin's fair value should be between $ 15,000 and $ 20,000.

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