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Respected Analyst Forecasts Surge in Bitcoin Price from $10,500 to $13,800


newslogical.com 28 July 2020 16:30, UTC
Reading time: ~3 m

Even though its obituary has been posted about 381 times, Rob Sluymer, says Bitcoin will increase to 13,800 USD if $10,500 breaks.

In the last few hours, Bitcoin has made way via the $10,000 which used to be its normal cost, to around $10,500.

According to research, the price of Bitcoin has upsurged by 5.67% in the last 24 hours to a current price of $10,344. This has also stirred increment in the market capitalization from 180 billion USD to 188 billion USD at the time of writing.

Several analysts became more particular about Bitcoin, owing to the recent progress made by the digital currency, including Josh Rager, an esteemed cryptocurrency analyst, trader and Co-Founder of Blackroots.

Rager, while describing the sudden increase in the digital currency, says, BTC came out positively high in the past week after its struggled since June 10. He however warns that for Bitcoin to begin a new bull run, it must exceed the 10,500 USD mark on its daily chart.

Crypto₿irb, a Bitcoin trader with major focus on guessing the historical value of cryptocurrency or purchasing and trading of coin, through an exchange, has stuck to its opinion and sold against the market trend of the past weeks.

He’s of the view that Bitcoin will only breakthrough the 10,500 USD marks in a few space of time.

For the first time in four years, Bitcoin is trying to sail through this strong resistance for the fourth time. He believes that Bitcoin will reach its goal of 12,000USD, if it successfully breaks above the $10,500 marks in the next few days.

HornHairs took to his Twitter page, how Bitcoin will advance to $12,000 marks after it breaks through from 10,500 USD which is its first mark.

Furthering, he revealed that a correction may occur soon and a continuous increase in the price of BTC would be unwholesome for the market.

HornHairs buttressed further that although, Bitcoin was predestined to die this March, 2020, instead, it has skyrocketed beyond 10,000 USD.

Also, Rob Sluymer, a Fundstrat analyst in a recent report is positive that Bitcoin will progress via the strong resistance at 10,500 USD and will also increase from 30% to 13,800 USD.

Meanwhile, the alternative coin market is also not left behind. Research shows that the price of Ethereum is leading among the topmost 20 largest crypto coins. It sped up from 7.34% to 325.11% USD.

On the other hand, Chainlink is seen as one of the biggest losers with a minus of 7.93% and VeChain retrogressed to – 7.37%.

Visa Endorses Usage of BTC, ETH, and XRP

Visa International has filed for a license from the government over the use of cryptocurrencies. This is in a bid to substitute physical coinage by its users.

Visa which used to operate on both central and commercial banks, has now introduced the usage of cryptocurrencies in order to improve its system of payment.

Through the Visa Direct Interface, crypto coins can now serve as a tool for the exchange of products and services as it enables users to make quicker and easier payments.

With unswerving access to above 61 million traders across the globe, Visa happens to be one of the leading financial institutions that has ever promoted the usage of the blockchain ecosystems, such as Bitcoin, Ethereum, and Ripple.

Upon recognizing that cryptocurrencies such as BTC and stablecoin which includes Tether (USDT) symbolize advancement in the world economy, Visa has decided to commence further research about it.

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