In 2020, Bitcoin (BTC) took a different stance at the $ 10,000 level. The leading cryptocurrency has managed to climb above this level several times but has been heavily rejected by bears each time.
Bitcoin (BTC) and $ 10,000
Bitcoin has finally managed to rise above this difficult resistance level; Rising up to $ 10,380 in an explosive move after breaking the daily balance pattern and approving the weekly bull flag.
Unfortunately, the bullish move was short and Bitcoin fell to $ 9,500. It was observed that while the price of Bitcoin was experiencing such a decrease, the transaction volume was quite low.
Expectations in Bitcoin (BTC)
According to the latest data obtained from the crypto analysis company “Santiment”, Bitcoin is experiencing a significant increase in the transaction volume in the annual time period. Based on the results of the data obtained, Santiment warns crypto money investors and traders as follows:
We suggest you be careful here and watch BTC movements closely to see which momentum has started to progress next week.
2/ a rising trend that #Bitcoin is enjoying right now. On the yearly timeframe, $BTC shows a clear rise in DAA, trading volume, and an up-and-down social volume. Though this price could hold and push toward $11,000 and beyond, the shorter term monthly is more of a small decline pic.twitter.com/6H3ZDvKxhV
— Santiment (@santimentfeed) June 2, 2020
Santiment also stated that there is a ‘make or die’ moment for Bitcoin right now because there are only two main possibilities in the game right now. If Bitcoin FOMO comes into play and pushes the digital asset to a new ATH or profits start to keep Bitcoin under $ 10,000; this causes terrible events – given that BTC is not permanent over $ 10,000.