Bitcoin up over $ 7,000, what’s next? The analyst

On Tuesday, the Bitcoin broke through the resistance level at $ 7,000 after a few sharp UPS rates. Today cryptocurrency fixed to about 7100 dollars, its growth had a positive impact on the stock market. This writes NewsBTC.

Traders expect growth of Bitcoin

Technical analyst Sarah Jenn believes that the asset still has great potential for growth in the short term.

Note that this trend raised the price from 5800 to 6800 dollars. The next wave of growth may well raise the cost of Bitcoin up to $ 7800.

At the moment, traders and investors are going back to work from summer vacation, and therefore even in the traditional markets will soon be observing good growth. The recent jump of Bitcoin coincided with a new record price of S&P 500 index, which depends on the capitalization of the 500 largest companies in the world.

Traders are counting on a repeat of last year’s scenario — then the S&P 500 rose 8.3 percent in the third week of August. After another five months, the price index soared to 15 percent. We will remind, the Commission on trade in commodity futures the United States recently reported on the gradual decline of the dominance of bears in futures for Bitcoin.

The movement of the cryptocurrency is above $ 7,000 added to the capitalization of the stock market 8 billion dollars. In just a couple of days, capitalization of Bitcoin has grown 4 percent to 121 billion dollars.

Let’s hope that this is the first sign of an imminent bullrun cryptocurrency. To reap huge profits, listen to investment tips in our cryptodata.

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