Bitcoin Breaks $12k Again, Is $15k On The Cards?

Share:

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on reddit
Share on telegram
Share on tumblr
Share on vk
Share on whatsapp
Share on email
Share on digg
Share on mix
BTC price

Bitcoin Breaks $12k Again, Is $15k On The Cards?

Bitcoin has shown even more resilience by breaking through $12k for the second time in a week.

And with the momentum being drummed up in Bitcoin it looks like a run up to $15k could be on the cards.

BTC is bullish AF

Second Time In a Week Bitcoin Breaks Through $12k

Bitcoin shot up over $12k on Sunday last week, but quickly crashed to low $11k within minutes.

Since then, the world’s leading cryptocurrency has steadily climbed back up and has finally broken through $12k yet again, which has led some to predict a rise to $15k and beyond.

Prominent Bitcoin trader Adam Mancini believes we could see at least $15k.

Earlier today, the well-known analyst said the BTC/USD pairing closed above a ‘multi-year bullish triangle’ by a staggering $2k.

He went on to say the move was such a significant increase of the continuation pattern that the chances of testing $15k and maybe even as high as $24k was now on the cards.

What’s Creating All The Bullish Momentum?

But what is creating all this bullish momentum? Is it just the Central Banks’ printing press going into overdrive?

Of course that can only help Bitcoin, but it’s not likely to feel the full benefits of that until further down the line.

But no doubt the fear that all the printing free money is creating is helping to drive the price of Bitcoin up.

Last week, CMO of cryptocurrency exchange Gate.io, Marie Tatibouet said the the price was likely growing because of the current situation around the world.

This includes ‘the instability caused by the pandemic, the stock market falling, the US and China market wrestling with the dollar and yuan, or a big fear of inflation on a global scale, just to highlight some,’ said Tatibouet.

It goes without question that these can only impact Bitcoin positively. This is what Bitcoin was created for: to hedge against government and banking corruption.

And with the next round of stimulus packages likely to be granted and “free money” handed out to everyone, many prominent investors and average people are simply losing faith in the centralized, manipulated monetary system.

At the weekend, the New York State Department of Financial Services (NYDFS) announced it was issuing licences for banks in its jurisdiction to custody Bitcoin and other cryptocurrencies.

This should see more institutions being awarded licences to custody and trade Bitcoin, something that nas been notoriously difficult in the home of Wall Street.

The global economy is a mess

Grayscale About to Launch a Bitcoin TV Ad Campaign

Barry Silbert, the CEO of Grayscale’s parent company Digital Currency Group, announced last week that Grayscale would be launching Bitcoin TV ad campaign this week on CNBC, MSNBC, Fox, and Fox Business.

Grayscale also published a free toolkit for Financial Advisors to teach them about the merits of Bitcoin. The Digital Currency Toolkit has been published because Grayscale say Financial Advisors had to ‘get up to speed’ on Bitcoin as ‘over one third of U.S. investors are interested in investing in crypto like Bitcoin.’

Where Is The Bitcoin Price Heading?

Short term price predictions are dangerous and more are probably wrong than right. However, trader Adam Mancini is a popular analyst and for good reason, he seems to get many calls right.

Bitcoin has broken through $12k, and he believes it could surge to $15k minimum.

And with everything seeming to fall into place: the financial and macro uncertainty, the NYDFS opening up, and Grayscale launching a TV ad campaign, it seems that everyone is trying to get a seat at the Bitcoin table.

The momentum is slowly bubbling away, and $15k is well within reach. Will see it go beyond that and a new ATH this year? Quite possibly.

Author: Tommy Limpitlaw

Ledger Nano X - The secure hardware wallet

Bitcoin FAQs

How can I buy Bitcoin in the UK?

The UK is one of the most Bitcoin friendly countries, and there are many exchanges where you can buy Bitcoin. The most reputable exchange is Kraken, which is also the most transparent and secure of all exchanges you can buy Bitcoin on. You can also buy Bitcoin in the UK from Paxful, which is a global marketplace. On Paxful you can buy Bitcoin with your £££, or with gift cards, or anything the seller is willing to accept. You can also buy Bitcoin at a Bitcoin ATM, which are dotted all around the country.

How can I get free Bitcoin?

Nothing is really free, because even when you earn free Bitcoins you’re giving up your time, which is precious. But you can earn free Bitcoins. If you are a gamer, there are games like Bitcoin Bounty Hunt which allows you to shoot your way to Bitcoin riches. Or you can save your Bitcoin in an interest bearing account and earn some BTC interest. Be careful with these, and only go with legitimate companies, though.

Why should I buy Bitcoin?

Bitcoin is a peer-to-peer money that nobody can manipulate. It’s all set in the Bitcoin codebase which is secured by hundreds of thousands of computers all around the world. Bitcoins can be sent by anybody and no third party is need to verify the transactions, and nobody can stop Bitcoins being sent.

How much should I invest in Bitcoin?

Bitcoin is a new technology, and an asset that is finding its value. It has great potential, but the price is volatile, so investing in it should only be for those who understand it and have faith in it. And only invest as much as you can afford to lose.

Share:

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on reddit
Share on telegram
Share on tumblr
Share on vk
Share on whatsapp
Share on email
Share on digg
Share on mix
Bitcoin(BTC)
$57,321.00(24H Vol)
$27,126,471,351.00
7D Chart

Bitcoin Maximalist is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon .com