Bitcoin has been performing greatly in the market since the start of the year, but the rally displayed by the leading coin in the last few days was more impressive as BTC move from around $7K to $8,900.
This trend made popular cryptocurrency analyst, Josh Rager, predict what to expect from Bitcoin in the next days. He said should the price of the digital currency stay above $10,100, then it’s on its way to a new all-time high.
Josh Rager says Bitcoin at above $10,100 Would Usher in the New ATH
Short-term price forecaster Josh Rager has recently shared his opinion about the price trend of Bitcoin as it advances to the 10k ceiling.
In a recent tweet, Rager stressed the importance of Point of Control (POC) regarding the present situation of Bitcoin in the market. He then compared the POC of 2018 and 2019. Conclusively, he said Bitcoin would be on the course of testing ATH once it crosses the $10,100 point.
He said, “BTC Uptrend Fixed range Volume Profile shows the importance of Point of Control (POC) for a major range to act as support. 2018 POC held as support at $6,400s IMO, we should see the 2019 POC act as support at $10,100 = Price should stay above $10,100 on its way to new ATH.”
Fixed range Volume Profile shows the importance of Point of Control (POC) for a major range to act as support
2018 POC held as support at $6,400s
IMO, we should see the 2019 POC act as support at $10,100
= Price should stay above $10,100 on its way to new ATH pic.twitter.com/VkpUYqTYrO
— Josh Rager 📈 (@Josh_Rager) January 17, 2020
Bitcoin Price Trend over the Past Year
Many cryptocurrency pundits had predicted a favorable price trend for BTC, but no one knew it could start to play out so fast. Around early December last year, when the price growth trend of Bitcoin was nothing close to encouraging, many analysts and investors were closer to losing hope.
Some of them envisaged the possibility of BTC plummeting to the $6,500 price region before any trustworthy price uptrend would be expected.
Another issue arose amidst Bitcoin enthusiasts during the long price growth reluctance of BTC. This had to do with whether Bitcoin halving was priced in or not.
The world is really yearning for the Bitcoin halving, and it is generally believed that the event will not only benefit BTC but all cryptocurrencies in the market if the history of the past halving is properly considered.
However, Bitcoin is peaking once again in the market, as well as other digital currencies.
BTC is now priced above $8,500, but there are still indications that it would move further in its uptrend. At the time of writing, BTC is trading at $8,901.86, with a relative 3% price upsurge in the last 24 hours.