Bitcoin

The $ 20,000 will be no resistance to the price of Bitcoin, says Max Keizer

According to Max Keizer, founder of Heisenberg Capital and moderator of Keizer Report, the price of Bitcoin (BTC) will soon rise to $ 28,000. He believes BTC’s historic high of $ 20,000 is unlikely to act as resistance.

Keizer, an early investor in the Kraken and Bitstamp $ 100 million unicorn, said::

“The $ 20,000 level for #Bitcoin will be no resistance. We will see no resistance until $ 28,000. A short retreat after the $ 100,000 attack begins with new strength.”

Over the past 12 days, the price of Bitcoin has risen from $ 9,200 to $ 12,000, the highest price in over a year. The cryptocurrency market benefits from the strong dynamics of Bitcoin and Ether from Ethereum.

Keizer confirms its $ 100,000 forecast for Bitcoin

The $ 20,000 will be no resistance to the price of Bitcoin, says Max Keizer
The $ 20,000 will be no resistance to the price of Bitcoin, says Max Keizer

During Bitcoin’s recovery last month, Keizer has continuously reaffirmed its position on BTC’s medium-term trend. He hopes that BTC will eventually exceed $ 28,000 and hit a new six-digit all-time high.

end of July When Bitcoin’s price first came to $ 11,000, Keizer said a six-digit BTC is likely. Since then, BTC has confirmed $ 10,400 as an important support level, maintaining its momentum.. He said:

“$ 28,000 is up for grabs before we see a retreat, and then we go to 6 numbers.”

But as Cointelegraph reported, on August 2, Bitcoin experienced its first major retreat since mid-June. The BTC price dropped sharply from $ 12,000 to $ 10,500 in 15 minutes, which caused the liquidation of USD 1 billion on the entire market.

The price of Bitcoin falls sharply in a short time

The Bitcoin price drops sharply in a short time. Source: TradingView.com

Keizer and other high-profile others do not appear to be affected by the move and generally view the price movement as a shock. Both long and low lever contracts were removed in less than an hour, causing the market to cool.

Cryptocurrency trader Scott Melker said there were many bearish differences before the crash. After such a strong recovery in a short time, the market apparently had to stabilize from an overheated reputation. He said::

“An extremely high volume hourly candle of USD 1700 BTC (mainly in a few minutes) that includes a similar ETH billing in the middle of the night? Cold. As I mentioned, there were bearish overtones everywhere. “

Others see a different trend for BTC, at least in the short term

Short term, Some traders expect major cryptocurrencies like Bitcoin and Ether to have low volatility. After a big price move, BTC tends to set a range and observe side measures for several weeks.

Michael van de Poppe, a trader on the Amsterdam Stock Exchange, said altcoins could benefit from a possible BTC side action. He said::

“The most likely case is that we will have volatility in $ BTC and $ ETH when they determine their range. But over time (a week or two weeks) this will gradually decrease. What do you have to do? Yes, buy Sauces in Altcoins While everyone is focused on BTC, your focus should be on Altcoins. “

While The short-term forecasts of traders vary, many investors see the medium-term trend towards 2021 as positive. Various macro factors such as the fall in the US dollar and the increase in liquidity could further increase BTC’s current momentum.

PlanB, the well-known developer of the Bitcoin Stock-to-Flow (S2F) pricing model, also confirmed that BTC is on the right track to hit $ 100,000. He said that after its explosive upswing, BTC was “perfectly on the right track” to hit six-digit numbers.

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