Bitcoin traders and an analyst company believe Bitcoin needs to reach or surpass the $10,000 mark to remain stable and consistent. If this doesn’t happen you can expect to see the cryptocurrency dropped to $5,000 or possibly less. One trader put it this way, here is what was said by one trader.
Cryptocurrency Trader D.I.Y Investing aid:
Bitcoin needs to hit $10400 for this pump to be significant. Otherwise, sub $5,000 and maybe even $4,000.
The trader also said:
Bitcoin literally looks like it’s either building before a MASSIVE pump or it’s about to get nuked at resistance. There’s no in between.
Another trader named George tweeted:
Looks like we’re heading higher. Low swept, broke back above the daily open, and unswept highs.
Will be looking for scalp longs on a retrace.
He was certainly happy for the increase but felt that it was something to watch, to see if the trend will continue. Meanwhile, another company shared some significant data that could be responsible for the current upward trend. Glassnode a blockchain intelligence company tweeted on the matter.
Glassnode alerts tweeted:
#Bitcoin $BTC Number of Active Addresses (2d MA) increased significantly in the last 24 hours.
Current value is 42,613.000 (up 22.3% from 34,842.604)
View metric:https://studio.glassnode.com/metrics?a=BTC&m=addresses.ActiveCount&mAvg=2 …
The company also put out another observance via Twitter:
#Bitcoin $BTC Mean Fee Paid (1d MA) increased significantly in the last 24 hours.
Current value is $0.60 (up 43.2% from $0.42)
View metric:https://studio.glassnode.com/metrics?a=BTC&m=fees.VolumeMean&c=USD …
The last day saw a significant amount of investors jumping on the bandwagon. This also saw a huge rise in fees due to the large number of persons who have come on board.
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