BITCOIN CONTINUES TO BREAK OVER $ 12,000 – Sencoinex
Bitcoin price has continued its rapid growth and on June 26 it hit $12,000 for the first time in over a year. What do investment experts say about this? Let’s find out with Sencoinex!
This afternoon (June 26th), Bitcoin prices hit a high of $ 12,662, up 11.4% from the past 24 hours. This is the highest level since March 2018. Commenting on this recovery momentum, George McDonough, CEO, and co-founder of KR1, London-based money, and blockchain technology company, said that “Money didn’t leave the asset behind, it just sat on the sidelines waiting to get back in.”
Cause of price increases, according to experts, Bitcoin growth thanks to the aggregation of factors: FED cut interest rates, Facebook money Libra Coin, US-China trade war escalated, and US-Iranian political tension.
Oanda Corp’s strategist Edward Moya said Libra “is validating the crypto space and sending all the major digital coins higher”. He also said that the volatility of bitcoin will remain there with two important resistance levels of $ 12,000 and $ 15,000.
According to veteran analyst Peter Brandt, Bitcoin’s current rally may end at $ 100,000. He affirmed with his 45-year experience, this is entirely possible.
However, the rapid increase in prices still makes many people cautious. To Whitney Tilson, founder of Empire Financial Research and a former hedge-fund manager, Bitcoin is “exhibit A” in the lexicon of “scams that enrich insiders at the expense of average folks.”
How do you think about this rapid growth of Bitcoin?
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