Bitcoin to strike $16k despite recent consolidation, Industry Leader expects

Bitcoin (BTC) has been on a wild journey for the past few weeks, starting for the first time when it conducted a meteor rally that raised its price from $7,300 to a maximum of $10,600. A move that led to the biggest single - Cryptocurrencies Ever They experienced marked movements during the day.

The movement immediately changed the overall market sentiment and led many analysts who previously set relatively low targets to change for a long time. An industry leader now points out that investors are looking for bitcoins. It is expected to reach a new high in the new year. "

Bitcoin Inches Decrease During Bearish Overnight Movement

At the time of writing, Bitcoin is trading just below 1% at its current value of $9,215, marking a slight drop from its daily high of around $9,400. That set yesterday afternoon as the bulls Something had begun to win impulse, and finally, it was fleeting.

Over a period of one week, the BTC is caught in a relatively narrow trading range between $9,000 and $9,500. It seems that $9,000 has become an important level of medium-term resistance that bulls would need to save. If they pretend induce cryptography to exceed its immediate resistance level.

Bitcoin bulls and bears remain stagnant in the short term, as it occurs within the crypto trade. And whether this limit is broken or not, in the end, will determine precisely which direction will move in the medium term.

Binance CEO: BTC will reach $16,000 in the short term

Currently, the year to date of Bitcoin exists around $13,800. But an important leader within the crypto industry now claims that it has led BTC to a new 2019 high of $16,000 "as soon as possible". It is anticipated That increases.

CZ, CEO, and founder of the popular Binance cryptocurrency exchange shared the sentiment of this boom in a recent tweet. Stating that the number of people currently involved with Bitcoin makes it easy to predict that it will eventually reach its first Everything installed will rise again towards maximum times.

Price prediction is easy. It's hard to be right about the weather. We will see the $ 16k soon. 1.4 billion people are working on that while we talk, ”he explained.

Although the macro perspective for Bitcoin certainly seems fast. It is important to keep in mind that the fate of the coming weeks and months will depend on how you react to your current trading range.