Bitcoin could surge past $10,000 within 2 weeks, analyst says

Bitcoin could rise above $US10,000 within two weeks, marking its recovery to around half of its record high, according to one analyst.

“The bitcoin price is about to blast past the level of $US10,000, recovering half of its losses from its all-time high,” said Naeem Aslam, chief market analyst at Think Markets UK. He expects bitcoin to pass the milestone “this week or by next week,” and added it would be “a real embarrassing moment for those who said that the currency will never recover from its losses.”

The cryptocurrency surged to nearly $US20,000 in December 2017, but tumbled below $US7,000 in less than two months. After dropping as low as $US3,250 in December 2018, it has rallied past $US8,700 this week.

“Once this market builds up a head of steam, it’s hard to stop,” said Neil Wilson, chief market analyst for Markets.com. “This is a big momentum play and the more buzz, the more traders will pile in behind the rising wave.”

Wilson doesn’t expect the recovery to last, but he cautioned against betting on a bitcoin slump.

To read more, please click on the link below…

Source: Bitcoin could surge past $10,000 within 2 weeks, analyst says | Business Insider