After Bitcoin rose above $ 9,000 on May 13, now it is struggling to exceed the $ 10,000 level. Some of the leading names in the crypto community expected this level to happen on Monday (May 18th). However, many attempts have not yet been successful.
Keith McCullough, founder and CEO of financial research firm Hedgeye Risk Management, said he believes that Bitcoin is still in an upward trend and that Bitcoin will reach $ 10,155 soon.
The well-known trader Scott Melker has a similar view. He thinks that BTC can reach $ 10,000 as of today.
‘Bitcoin Seems to Rise up to $ 10,155 in the Short Term’
Keith McCullough, CEO of Hedgeye Risk Management, reported that Bitcoin is already on standby and it is only a matter of time before it reaches a $ 10,000 area.
BITCOIN: up again this AM remains Bullish TREND @Hedgeye with immediate-term upside in the Risk Range (published daily) to $10,155
— Keith McCullough (@KeithMcCullough) May 19, 2020
While McCullough has practical views for BTC, he thinks of it as just a pleasant commodity; it does not see it as a tool for any global change in the economy and banking system.
‘Bitcoin Is Very Impressive Today’
Renowned trader Scott Melker shared Bitcoin’s rise on the market stance. He expects BTC to break the $ 10k level very soon, if not today.
“Bitcoin looks dashing today. I can feel 10k +. ”
Analyst Michael van de Poppe agrees with these two comments, saying that Bitcoin will fall into the $ 9,991 range tonight.
All right, seems like we're going to attack the range high. pic.twitter.com/YMJRmtKpqf
— Crypto Michaël (@CryptoMichNL) May 19, 2020
Earlier this year in mid-February, the leading cryptocurrency managed to overcome the $ 10,000 barrier; however, it could not continue to rise.
And what happened in the end: On March 12, Bitcoin was hit hard. Thus, it fell from $ 7,400 to $ 3,800 and ignited the fuse of a 1-month effort.