BTC is bullish and it’s easy to know the market is optimistic when enthusiasts, experts and analysts begin to share their predictions about the future of the markets and especially the price of Bitcoin and the rest of the altcoins available out there.
One of those who joined this trend is Alex Mashinsky, an early developer of Voice over Internet Protocol (VoIP) and founder of the Celsius Network. In a recent interview at the New York Consensus 2019, he told the Crypto Briefing team that he expects Bitcoin to reach $10000 in the next few days.
“The short ratio is still 52% … There’s still a tremendous amount of people who are short on bitcoin who haven’t covered. So I think we’re going to go above ten thousand before we see a correction. Because these guys are going to be squeezed out. We haven’t seen the pain yet. We have not seen them cover. They have to cover, and when they cover, they buy bitcoin.”
Mashinksy, however, explained that Bitcoin has always defied the most important prophecies. Despite basing his forecasts on market data, it seems that the only predictable thing about Bitcoin is its unpredictability:
Everyone who said anything about Bitcoin was proven wrong. You want to make an ass out of yourself? Predict the price of Bitcoin.”
10,000 USD Seems to Be a Key Zone for BTC According to Many Analysts
This bullish sentiment is shared by an important number of analysts, however, each one has put the resistances in different points with 10000 as a zone of interest. An example is Mike Novogratz, who explained that Bitcoin (BTC) must first test the 6000 zone (which seems to have already surpassed) and then reach the 10000 Mashinksy talks about, however he was more cautious, explaining that he would be happy if they achieve that goal before the end of the year.
Another who also looks at the 10000 USD band as an important area to determine the future of the crypto market is Fundstrat’s Thomas Lee. In a poll made to his followers, Mr. Lee commented that once the 10000$ line is crossed the FOMO will cause new traders to start seeing Bitcoin as an attractive option.
Bitcoin started a bullish streak that led him to surpass the 4000 dollar zone in April. Although the RSI suggests caution, the crossing of MACD shows that the bullish trend could last for quite some time.