- It’s totally quiet
- Prescient Reddit publish
Bitcoin, the main cryptocurrency by market capitalization, approached the $105,000 degree earlier this Sunday, reaching an intraday excessive of $104,958 on the Bitstamp trade.
There have now been a complete of 12 days the place the value of the main cryptocurrency has closed above the extremely essential $100,000 mark.
It’s totally quiet
Although Bitcoin is simply inches away from reclaiming the $100,000 degree, retail traders seemingly stay on the sidelines for now.
Fundstrat’s Tom Lee has described this type of silence as “unusual,” provided that Bitcoin has made important strikes over the previous few days. Sometimes, that is imagined to entice retail gamers.
“Funding charges are additionally low relative to prior value peaks. After they come, they’re going to come very closely,” he stated.
It’s not clear whether or not Bitcoin will have the ability to maintain the present momentum and ultimately attain a brand new report excessive.
Within the meantime, chartist Todd Butterfield believes that Bitcoin is flippantly overbought following the current surge, that means that the cryptocurrency may expertise a slight pullback.
Prescient Reddit publish
Within the meantime, an especially prescient Reddit publish from 2011 predicting Bitcoin’s value motion lately emerged on social media.
A Reddit consumer (u/oldie101) made a publish on the r/MarkMyWords subreddit predicting that the cryptocurrency would have the ability to hit $100,000 in 2025.
“Simply realized why I used to be getting notifications. No, I didn’t hodl. Purchased and bought as life moved on. Nonetheless hodl a bit, however may have been lengthy retired if I trusted myself way back,” the consumer wrote a Reddit remark 4 days in the past.