Crypto Exec: Bitcoin ready to exceed $ 10,000, tap up to $ 12,000 in 40% period

In the last two months, Bitcoin (BTC) has recorded a gain of more than 100%. At the same time, some cryptographic assets, such as Binance Coin (BNB), Litecoin and Chainlink, are, to put it mildly, on the moon. As Travis Kling of Ikigai recently pointed out, Bitcoin has risen 129% since the beginning of the year, while BNB has recorded a staggering 432% performance, which reinforced the stock market's commitment to create a value proposition for the pawn.

In any other market, investors would do their best to make a profit by liquidating their digital asset pools. Ironically, it would be a bit like a bank case, with speculators running in the hills to protect their "lambo money".

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Bitcoin is ready to roll

Vinny Lingham, the general manager of Civic, repeatedly nicknamed "The Bitcoin Oracle", has gone on Twitter to convey his latest BTC price predictions. In a tweet, the venture capitalist said he believed Bitcoin could soon "exceed $ 10,000", and then test $ 12,000.

This action of the BTC seems aggressive. It makes me think that we could spend $ 10,000 and test $ 12,000 very soon, but $ 12,000 is a very high level of resistance. I would expect a consolidation around the $ 10,000 level for some time if $ 12,000 is (probably) rejected.

– Vinny Lingham (@VinnyLingham) May 31, 2019

From there, he expects the cryptography market to stagnate, as $ 12,000 is supposed to represent a "very high level of resistance". Indeed, with $ 12,000, BTC has almost exceeded twice in early 2018, at a time when the cryptocurrency market was trying to get out of the vise of the bear. And most importantly, a collapse of less than $ 12,000 is what many believe triggered the brutal decline of 2018.

Does BTC have chops?

This begs the question: does Bitcoin even have the legs to go over $ 10,000? According to most analysts, this is the case. As Filb Filb explains7,300 BTC short films were opened on Bitfinex when Bitcoin was trading between $ 11,600 and $ 13,800 in early 2018. Assuming the positions remain to be hedged, Filb notes that, as the cryptocurrency market continues to show a Bullish momentum, short positions will be more and more put under pressure. This, added to the Fibonacci retracement level of 0.618, between $ 20,000 and $ 3,150, is expected to put upward pressure on prices.

Related reading: After the publication of the best monthly close since 2017, Bitcoin could be subject to further significant gains

Interestingly, some expect Bitcoin to consolidate much sooner. According to the previous NewsBTC reports, Mike Novogratz, CEO of Galaxy Digital, estimates that the bitcoin should consolidate between 7 000 and 10 000 dollars. He joked that "trees do not grow in the sky", hinting at his belief that the recent move could be "too much, too fast".

He noted, however, that he could be wrong, noting that there was enough excitement and momentum, or FOMO, as Tom Lee of Fundstrat called it, to propel Bitcoin higher. We will have to see if.

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