What you think about Bitcoin. Does the Bitcoin will reach to $8k. The Latest crypto update. What will happen if the bitcoin will hit $8k - Mini invest
Bitcoin has been holding above $7K, but where will its next move take it? Many investors are eyeing $8K as a key level for continuing Bitcoin’s upward momentum and possibly pushing it into a market. However, a few traders believe Bitcoin could easily make a reversal within the near future and plummet backtrack to $3K. BBC featured trader Charlie Burton and co-founder of Genesis Block HK Clement Ip weighed in on Bitcoin’s short term and future in Cointelegraph’s latest crypto market discussion video.
For Charlie, $8K is a crucial milestone, but not one that has him convinced:
“I would really like to ascertain it well above 8,000 before I start getting excited.”
He also cites Bitcoin’s recent correlation with the stock exchange as a reason why we could see a pullback within the near future:
We're seeing this correlation there. And at some point, they'll probably do another little bit of a pullback and we'll see how Bitcoin reacts then also.
Clement isn't so optimistic about reaching $8K during this current upward drive. consistent with him, Bitcoin has been “extremely quiet” thus far this month. This stands in stark contrast to a very volatile March, which saw Black Thursday shred over 40% of Bitcoin’s price in 24hrs.
I think if I had to place aback, I do not think we're gonna head towards, like, anything further. Maybe we'll come down at $7.5K. That's my guess. But I'm on the sideline immediately .
Technical analyst and trader PentarhUdi and a pseudonymous trader who called the $3,000 bottom of Bitcoin in December 2018 are both eyeing a pullback to $3K within the near future. When asked about the likelihood of this move occurring, Charlie said he doesn’t “see anything technically to mention that it's to return right down to three and a half, backtrack to 3000 at the instant .”
However, he reminds people to stay an eye fixed on the stock exchange just in case it rolls over, which could cause Bitcoin to form new lows at $4,000.
Clement is additionally wary of movements beyond $8,000. He reminds people to take care of jumping on any Bitcoin hype train when the danger of a fast correction is usually possible:
You know, once we hit 8.5, we'll see more people coming in and thinking that it'll go past 10. And up and beyond due to halving. Who knows? But if that does happen, then it'll be - I mean, the large whales out there could wipe them out. It could retest the lows. I feel it's absolutely possible, but it depends on what percentage people believe that this may happen.
Bitcoin has been holding above $7K, but where will its next move take it? Many investors are eyeing $8K as a key level for continuing Bitcoin’s upward momentum and possibly pushing it into a market. However, a few traders believe Bitcoin could easily make a reversal within the near future and plummet backtrack to $3K. BBC featured trader Charlie Burton and co-founder of Genesis Block HK Clement Ip weighed in on Bitcoin’s short term and future in Cointelegraph’s latest crypto market discussion video.
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| Does Bitcoin will hit $8k, What will happen when the Bitcoin will hit $8k. |
Will Bitcoin hits $8K?
For Charlie, $8K is a crucial milestone, but not one that has him convinced:
“I would really like to ascertain it well above 8,000 before I start getting excited.”
He also cites Bitcoin’s recent correlation with the stock exchange as a reason why we could see a pullback within the near future:
We're seeing this correlation there. And at some point, they'll probably do another little bit of a pullback and we'll see how Bitcoin reacts then also.
Clement isn't so optimistic about reaching $8K during this current upward drive. consistent with him, Bitcoin has been “extremely quiet” thus far this month. This stands in stark contrast to a very volatile March, which saw Black Thursday shred over 40% of Bitcoin’s price in 24hrs.
I think if I had to place aback, I do not think we're gonna head towards, like, anything further. Maybe we'll come down at $7.5K. That's my guess. But I'm on the sideline immediately .
Will There be a Pullback to $3K?
Technical analyst and trader PentarhUdi and a pseudonymous trader who called the $3,000 bottom of Bitcoin in December 2018 are both eyeing a pullback to $3K within the near future. When asked about the likelihood of this move occurring, Charlie said he doesn’t “see anything technically to mention that it's to return right down to three and a half, backtrack to 3000 at the instant .”
However, he reminds people to stay an eye fixed on the stock exchange just in case it rolls over, which could cause Bitcoin to form new lows at $4,000.
Clement is additionally wary of movements beyond $8,000. He reminds people to take care of jumping on any Bitcoin hype train when the danger of a fast correction is usually possible:
You know, once we hit 8.5, we'll see more people coming in and thinking that it'll go past 10. And up and beyond due to halving. Who knows? But if that does happen, then it'll be - I mean, the large whales out there could wipe them out. It could retest the lows. I feel it's absolutely possible, but it depends on what percentage people believe that this may happen.
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