Bitcoin (BTC) surprised everybody by going above $ 10,000 over $ 11,000 in just a few hours. This is the highest price recorded by Bitcoin since August last year.
The entire cryptocurrency market is now very excited about the future of the digital currency, and some analysts believe that we can enter the “biggest bull run in human history”.
Bitcoin Can Start A Big Bull Run
Bitcoin may be moving to new heights. This means that the digital asset may start growing $ 20,000 or more in the coming weeks and months. While Bitcoin has been on a bear trend for several days since 2017, now the emotion has changed and resistance levels can break any moment.
If #Bitcoin breaks $10,500 (yellow line)…
The greatest bull run in human history will start 🤩 pic.twitter.com/b57esjyRGk
— Ivan on Tech (@IvanOnTech) July 27, 2020
Many analysts think that $ 13,800, the peak of 2019, will be seen first, and then local top levels, which are close to $ 15,000 and then $ 20,000. It is always important to remember that during the growth periods we are experiencing now, digital assets are very volatile and we should not invest more than we can afford to lose.
Altcoins Fall As Bitcoin (BTC) Rises
In addition, Raoul Pal, Founder and CEO of Global Macro Investor and Real Vision Group, compared the current bull work in the cryptocurrency market (especially Bitcoin) to the movement experienced by other assets such as gold or technology shares. He thinks that the current rise in the market is related to non-debt assets like banks.
Despite the current bull run on the market, many other altcoins lost more than 20%. All altcoins are moving away from the green zone and we can continue to see this behavior in the coming weeks.