{"id":407165,"date":"2019-12-14T01:40:14","date_gmt":"2019-12-14T01:40:14","guid":{"rendered":"https:\/\/ktsl888.com\/?p=407165"},"modified":"2024-06-11T13:35:13","modified_gmt":"2024-06-11T13:35:13","slug":"bitcoin-price-crossing-10000-important-top-investor-explains","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-crossing-10000-important-top-investor-explains\/","title":{"rendered":"Why Bitcoin Price Crossing $10,000 is so Important: Top Investor Explains"},"content":{"rendered":"

For some reason or another, Bitcoin investors have long gravitated to round numbers. $1, that’s important. $100, make sure you watch that level. $1,000, all hands on deck. According to a prominent cryptocurrency investor and commentator, there’s truth to the importance of these round numbers, especially in this nascent market.<\/p>\n

Related Reading: Last Weekly Golden Cross Led Bitcoin to Rally 75% Rapidly; Will the Same Happen Now?<\/a><\/h6>\n
This would imply that reclamation of $10,000, then $20,000 on macro price scales will mean that Bitcoin has the fuel to shoot higher, potentially until it reaches another important round number.<\/p>\n
Why Round Number Prices Are So Important for Crypto<\/strong><\/h2>\nIn a recent podcast with Luke Martin<\/a>, Su Zhu of Three Arrows Capital said that round numbers in the cryptocurrency market are extremely important. Zhu claimed that “round numbers have even more meaning in crypto [than forex] because this is what everyone thinks.”<\/p>\n
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This largely implies that Zhu believes that the leading cryptocurrency topping $10,000 will be an important moment in terms of price action analysis.<\/p>\n
Related Reading: Crypto Market is 0.25% of Global Stock Market: Can Bitcoin Catch Up?<\/a><\/h6>\n
It isn’t only Su Zhu who believes that $10,000 is of utmost importance for Bitcoin to surmount.<\/p>\n
Earlier this year, Fundstrat Global Advisors’ resident cryptocurrency analyst Tom Lee released an analysis from his firm that implied that $10,000 is the level to watch for the time being.<\/p>\n
Fundstrat wrote in the analysis that once BTC tops $10,000, \u201cLevel 10\u201d FOMO will grace this market, which last occurred when BTC blipped above $4,500 in late-2017. If history is any guide, the cryptocurrency market will shoot even higher once $10,000 is reclaimed on a macro scale.<\/p>\n
As Lee wrote on Twitter earlier this year, \u201c[$10,000] will see FOMO from those who gloated about the 90% crash in BTC\u2026 and those who saw Bitcoin dead as forever.\u201d<\/p>\n
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We are apparently headed straight for LEVEL 10 FOMO in the #bitcoin<\/a> market (via @fundstrat<\/a>) pic.twitter.com\/YzFkrazWz2<\/a><\/p>\n
— Adam Samson (@adamsamson) May 29, 2019<\/a><\/p><\/blockquote>\n