Bitcoin Breaks Out Above $12,000- It's Headed Beyond $14,000 to All Time Highs
Bitcoin broke out this morning above $12,000 and cost short sellers some major cash. Bitmex traders lost $44 Million this morning as Bitcoin defied the analysts and moved higher on strong volume after a low-volume weekend. Traders know that weekends have a dearth of volume and prices typically sag.
Bitcoin has been receiving some major media attention and has been performing well in Q2-Q3 2019. The rewards halving of May 2020 and Libra Coin's media attention are really helping to push Bitcoin's price as well. In addition, the Bitcoin has rate has risen dramatically, which is a precursor to a rise in the price of Bitcoin as whales accumulate the asset on the blockchain.
Keep an eye out for a major breakout above the $12,500 resistance level to $14,000 and beyond. When shorts are forced to cover, Bitcoin will rocket upwards. I am a buyer here and see all time highs for the asset in Q4 2019. Altcoin season should be around the corner after Bitcoin's dominance breaks below 50%.
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Originally published in my Weku account I own at:
https://deals.weku.io/community-deals/@wstanley225/bitcoin-breaks-out-above-usd12-000-it-s-headed-beyond-usd14-000-to-all-time-highs
Also published in my Hyperspace, Minds, Serey, Bearshares, Whaleshares, Golos and Publish0x I own.
Picture from Pixabay.
https://www.coindesk.com/bitcoin-price-nears-12k-after-rising-500-in-minutes
https://coinmarketcap.com/
