Bitcoin exchange rate: Explosive growth and new target at around 10000$

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Over the past week reference, the cryptocurrency has grown by more than 15%. At the moment bitcoins are trading around $9150, confidently stepping across the threshold to $9,000. Thus, the coin continues to follow the predictions of technical analysts, supporting the demand of market participants and not allowing the correction to cause the bearish sentiment. The next crucial resistance level is seen at $10000.
Dynamics near this level promises to attract particular attention. On the one hand, it is here that many first time investors truly begin to take profits. If the growth momentum of bitcoin runs out immediately after you reach $10,000, we can see a massive correction, as many will hasten to “exit”.
Another, yet more likely scenario in light of the ongoing rally cryptocurrency is that bitcoin exchange rate will continue to sweep away the resistance levels one after another. Fear of lost profits and the desire to engage in a new crypto-race could continue to move quotes up.
In any case, the market reaction is close to $10000 can be indicative, laying the foundations for the trend of bitcoin prices on the following days and even weeks.
On the stock market have long been rumours around cryptocurrency Facebook and Telegram. Pavel Durov does not yet understand what is happening with the most desirable product of the creators of the messenger, while a subsidiary of the social network has launched a digital wallet Calibra cryptocurrency, called Libra. Wallet will receive support from the biggest brands, including MasterCard, Visa, PayPal and many other big names. Thus, sellers will have the opportunity large to accept this cryptocurrency. It became known that the Calibra has published a Whitepaper, and also launched a Test Net. The launch for customers is planned for the first half of 2020. Cryptocurrency Libra will be embedded in WhatsApp and Facebook Messenger.
To underestimate such an event is impossible, but here it is also worth thinking about what will happen with the “first” cryptocurrency. Now the whole market is on the rise along with BTC and altcoins grow. However, we must admit that this growth is almost entirely speculative. Nobody wants to spend Bitcoin (BTC) or zcash for (ZEC) on daily expenses, since tomorrow their courses may add 10% or more.
The same fate awaits Libra or TON, if their courses will be free floating and, therefore, the only way to create the massive use of digital currency is to make its steilcoom. On the one hand, this would negate the speculative demand, on the other hand, a huge user base of Facebook will provide the giant Libra liquidity and turnover.
Definitely the cryptocurrency market will have significant changes after the arrival of large FINTECH companies. For this reason, there is a quite tangible possibility that the current rally in the market “first” cryptocurrency will end much earlier, and the capital will “flow” towards fundamentally strong, fully regulated and transparent projects with great prospects on the market.
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Alexander Kuptsikevich,
Analyst
FxPro