Bitcoin Breaks $10,000 As Pompliano Says $100,000 Rally Has Begun

Bitcoin Breaks $10,000 As Pompliano Says $100,000 Rally Has Begun

The price of Bitcoin has finally broken through the $10,000 line. This means the premier cryptocurrency is now past a major psychological milestone. What’s more, analysts suggest that this could just be the start of a far greater Bitcoin rally.

Bitcoin smashes $10,000 barrier

During the past few weeks, numerous analysts have said that the technical signs indicate a Bitcoin bull run. That bull run now appears to be closer than ever – if not already in effect – as Bitcoin soars past the $10,000 barrier.

Bitcoin has steadily risen towards $10,000 during all of 2020, but $10,000 is now definitively broken. Recent reports also suggest that Bitcoin’s price may increase even more, as the Bitcoin halving approaches.

Image Source: COIN360

One well-known Bitcoin supporter, Anthony Pompliano, suggests that this may just be the beginning. In fact, Pompliano suggests that Bitcoin may soon embark on a massive crypto rally which will bring the digital currency’s price to $100,000.

Pompliano: $100,000 Bitcoin by December 2021

In fact, Pompliano references Bitcoin’s intentionally static supply, hinting that the upcoming Bitcoin halving may play a role in further price increases. This suggestion came in a recent tweet from Pompliano

“Bitcoin just hit $10,000. I still think that Bitcoin will hit $100,000 by end of December 2021. Fixed supply. Increasing demand. Time will tell.“

Pompliano is not the first to suggest that Bitcoin could surge towards $100,000. In fact, one analyst went as far as to suggest that a Bitcoin price of $152,000 is achievable as soon as late 2020.

+$10,000 Bitcoin leaves analysts bullish

With that said, however, Pompliano is far from the only analyst who is bullish regarding Bitcoin. The crypto analyst Willy Woo recently said that “[t]his breakout is the real deal. Fundamental investment activity is backing this $10k breakout.”

This view is in line with recent bullish sentiment from analysts and investors. However, the coming days will likely test whether Bitcoin can sustain a price over $10,000 in the short term. 

If Bitcoin is possible to hold this price – or even increase it – as fickle traders consolidate their gains, a larger rally could very well take place.

The CEO and co-founder of BitMEX, Arthur Hayes, is another crypto profile who is bullish regarding Bitcoin. In a fresh tweet, Hayes suggests that Bitcoin could soon reach $20.000.

“Nothing can stop me, I’m all the way up! Slow and steady wins the race. Let’s take the staircase up to #bitcoin $20k.”

Leave a Reply

Your email address will not be published. Required fields are marked *