Bitcoin reached $12,000 for the second time in a month. According to analysts, the next target is $15,000 if Bitcoin becomes successful in a securing position above $12k.
At press time, the Bitcoin price is standing at $12,004. It is a great achievement for top digital assets as the most crucial psychological level is surpassed by Bitcoin.
Yesterday, the value closed at $11,686, but with the start of the new week, it has shown a fresh movement towards the most crucial level. According to analysts, as long as Bitcoin remains above $11,500, there are chances of a bullish breakout.
Great Victory for Bitcoin
Bitcoin supporters cheer the moment when price value reached $12,000. Gemini CEO Tyler Winklevoss said,”And #Bitcoin has breached 12k. Great way to start the week!”
Prominent analyst Josh Rager said that he will remain bullish despite the expectation of pullbacks. Rager said:
“Highest price weekly close for Bitcoin since January 2018! A higher-high on the weekly trend – nice close by Bitcoin even after the $12,100 to $10,500 pullback. Iwill remain bullish with the trend even though pullbacks are expected. I will remain bullish with the trend even though pullbacks are expected.”
The Chief Economist at Chainalysis, Philip Gradwell, said that Bitcoin “inflows to exchanges this Sunday were back to normal levels, so less bitcoin has been added to be sold. Exchange balances have been increasing so there is still liquidity, but interesting that additional supply may be slowing.”
Next Goal is $15,000
Another trader Adam Mancini confirms that the next target of Bitcoin is $15,000. Adam Mancini said:
“Excellent rally in bitcoin $BTCUSD up over 2k since my post below. It broke out of a multi-year bullish triangle with force.
Bitcoin may be the new kid on the block but the same old classic patterns that apply to all financial assets still apply. Trend is up with 15k next target.”