Bitcoin (BTC) has broken a new price record, but this time the bulls are happy to bear.
As noted by many analysts and popular Bitcoin clients this week, the price of Bitcoin has remained above $ 10,000 for longer than at any time in history.
The Pump: Bitcoin ‘proves bearish sentiment wrong’
Morgan Creek Digital co-founder Anthony Pumplano suggested this is a blow to the bears, as BTC / USD now closes over $ 10,000 per day for 63 days.
This marks a longer series of daily shutdowns than ever before, and Pompliano, also known as Pomp, claims this eases the bear’s condition.
“Dear Bitcoin haters, Bitcoin has set a record in 63 consecutive days of over $ 10,000 and is showing nothing but signs of growth,” he tweeted on September 28.
“The market shows you were wrong. There’s always time to give up and join the party 🙂 Love, pumping.”
Could CME Break the BTC price mantra?
Bitcoin has received mixed pressure in recent weeks as domestic gains of $ 12,500 gave way to lows near $ 9,800. However, in both cases, BTC / USD managed to avoid the daily closing below the five-digit figure.
After the downturn, Bitcoin recovered to trade in the aisle from $ 10,000 to $ 11,000, and is still facing rejection in an attempt to rally.
For some analysts, including Michael Van de Pope of Cointelegraph, downside risks remain in the form of a new $ 9,600 test, which includes the only downside remaining in futures on the Chicago Mercantile Exchange. A short trip to the $ 9,800 market failed to fill that gap, leaving an expectation of repeat performance.
However, the moves so far are not that impressive.
“Markets are very bored, but they couldn’t break $ 10,800. After losing $ 10,600, I will set myself a target of $ 10,400,” Van de Bouby commented Sunday, shortly before the modest jump and ditching of $ 10. 950. .
He uploaded a script that later included a drop to $ 10.400 before testing $ 11,000 again.